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In 2021-22, bilateral trade between the US and India stood at $119.42 billion as against $80.51 billion in 2020-21, while India's two-way commerce with China aggregated at $115.42 billion in 2021-22 as compared to $86.4 billion in 2020-21
The US surpassed China to become India’s top trading partner in 2021-22, reflecting strengthening economic ties between the two countries.
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Trade experts believe that trend of increasing bilateral trade will continue in coming years also
US becomes India's biggest trading partner in FY22, surpasses China - US is one of the few countries with which India has a trade surplus. In 2021-22, India had a trade surplus of USD 32.8 billion with the US.