US was again India’s largest trading partner during April-October 2021: Union Commerce Ministry

The government said in Rajya Sabha that during the April-October period this fiscal, the US has once again emerged as the largest trading partner of India with bilateral merchandise trade of $ 67.41 billion.

The US has been the largest trading partner of India with respect to merchandise trade since 2018-19, except in 2020-21, when trade with America declined marginally on account of the COVID-19 pandemic, Minister of State for Commerce and Industry Anupriya Patel said in a written reply to the Rajya Sabha.

“In the current 2021-22 (April- October), the US has once again become the largest trading partner with bilateral merchandise trade of $ 67.41 billion, accounting for 11.98 per cent of India’s total merchandise trade,” she said.

She also said that India’s bilateral trade with Australia has increased to $ 13.88 billion in 2021, from $ 7.48 billion in the corresponding period of 2020.

Similarly, the bilateral trade with UAE has grown to $ 49.06 billion in 2021, from $ 29.48 billion in 2020 for the same period.

“The bilateral trade with Belgium has also grown to $ 13.70 in 2021, from $ 7.63 billion in 2020 for the same period,” she added.

In a separate reply, Patel said the share of export of goods and services in GDP has increased to 18.7 per cent during 2020-21, over 18.4 per cent in 2019-20, and 21.7 per cent in 2021-22 (April-September) over 19.4 per cent in 2020-21 (April-September). In another reply, she said India’s import of pulses dipped marginally to 10,34,491 tonnes during April-September this fiscal, as against 10,39,861 tonnes in the same period last year. It was 24,66,156 tonnes in 2020-21 as against 28,98,078 tonnes in 2019-20.

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