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

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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