Export – Import details of Indian Trade with other three Powers

China was the largest trade partner of India with bilateral trade totalling INR INR100.64 Kharab or INR 1006400Crores ( $118.4 bln) in 2023-2024 financial year

The World today has Four Poles ….China, India, Russia and USA.

China was the largest trade partner of India with bilateral trade totalling INR 100.64 kharab or INR 1006400 Crores ( $118.4 bln) in 2023-2024 financial year. India’s imports from China gained 13% last month to INR 8.67 Kharab or 86700Crores ($10.2 bln,) while exports fell by 9.44% to INR 1.275 Kharab or 12 750 Crores ( $1.5 bln,) a report said. In April-July Indian exports to China reduced by 4.54% to INR 4.08 Kharab or 40800 Crores ($4.8 bln) while imports rose by 9.66% to INR 30.47 Kharab or 304725 Crores ( $35.85 bln), which resulted in India’s trade balance deficit in bilateral trade reaching INR 26.61 Kharab or 266135 Crores ( $31.31 bln).

India’s exports to the US increased by 3.15% in July to INR 5.57 Kharab or 55675 Crores ($6.55 bln), while imports added 1.43% to INR3.15 Kharab or 31535 Crores( $3.71 bln), according to the Indian Commerce ministry. India’s exports to the US totalled INR 23.32 Kharab or 233240 Crores ( $27.44 bln) in April-July of this financial year, having increased by 1.43%, while imports grew by 6.59% to INR 12.95 Kharab or 129540 Crores ($15.24 bln). India’s surplus in trade with the US amounted to INR 10.37 Kharab or 103700 Crores ( $12.2 bln).

India’s trade with Russia rose 1.8-fold in the period to INR 55.8 Kharab or 558450 Crores ($65.7 bln). Russia was India’s fourth-largest trade partner after the US, China and the UAE. India’s imports of Russian goods increased by 22.56% in July to INR INR4.60 Kharab or 45985 Crores ($5.41 bln), while in April-July of the present 2024-2025 financial year Russian exports to India rose by 20.33% to INR20.20 Kharab or 202045Crores ( $23.77) due to supplies of crude oil, the Indian Commerce Ministry reported.