New Delhi: India's exports to the US rose by 39 percent year-on-year to USD 8.44 billion in January, while imports grew by 33.46 percent to USD 3.57 billion, according to the commerce ministry data.
Cumulatively, the country's exports to the US during April-January grew by 8.95 percent to USD 68.46 billion against USD 62.84 billion in the same period previous fiscal, the data showed.
During 2021-24, America was the largest trading partner of India. The US is one of the few countries with which India has a trade surplus.
In 2023-24, the US was the largest trading partner of India with USD 119.71 billion bilateral trade in goods (USD 77.51 billion worth of exports, USD 42.19 billion of imports and USD 35.31 billion trade surplus).
The increasing trade assumes significance as the two countries are aiming at USD 500 billion two-way commerce by 2030 and a trade agreement.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)