Top 4 Trade Partner Countries of India
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The Indian government has been actively taking steps to transform the business landscape in the country. Recently, the government allowed 100% FDI in several sectors, including Oil, Energy and Infrastructure. Neighboring countries are increasingly showing interest in India due to its growth potential and strengthening trade relationships. Trade agreements under RCEP and G20 summit are boosting business sectors in India.
4 Trade Partner Countries of India
United States of America: With the export of 23,479 million dollar and import of 39,200 million dollar, USA is the biggest business partner of India
China: China’s import in India is estimated to be 29.17 Billion dollars and export 7.70 Billion USD
Due to Financial slowdown, Indo-China trade has fallen to 36.87 Billion China continues to remain one of the top 4 business partners of India
UAE: India’s export with UAE has increased to 167.77 Billion USD. Last year it was 162 Billion USD. UAE and India have recently signed multiple deals in oil and Energy sectors to further strengthen business ties between the two countries
Hong Kong: With 4.1 per cent of the total Indian exports and 13.2 Billion USD trade with India, Hong Kong is the fourth business partner of India
With the export figure of INR 64.43 Billion, India maintained its export business with Hong Kong in 2019