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China Surpasses US to become India’s top trade partner in 2020

China Surpasses US to become India's top trade partner in 2020_50.1

China has regained its position as the top trading partner of India in 2020, which was held by the United States, since 2018-19. The two-way trade between India and China stood at $77.7 billion in 2020 despite the conflict along the Line of Actual Control (LAC) and the rising anti-China sentiment. The India-US bilateral trade stood at $75.9 billion, according to provisional data from the commerce ministry. Meanwhile, the UAE continues to remain India’s third-biggest trading partner.

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Important takeaways for all competitive exams:

  • China Capital: Beijing.
  • China Currency: Renminbi.
  • China President: Xi Jinping.

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