According to the data of the Union Ministry of Commerce, United States remained India’s top trading partner for the second consecutive fiscal in 2019-20. The recently released data shows increasing economic ties between the two nations. As per the data, the bilateral trade between the US and India has increased from $87.96 billion in 2018-19 to $88.75 billion in the fiscal year 2019-20. China was India’s top trading partner since 2013-14 to 2017-18.
The data released by the Union Ministry of Commerce indicates that US is one of the few countries with which India has a trade surplus as the trade gap between the countries has increased from $16.86 billion in 2018-19 to $17.42 billion in 2019-20. Latest data also revealed that the bilateral trade between India and China has dipped from $87.08 billion in 2018-19 to $81.87 billion in 2019-20.
Important takeaways for all competitive exams:
Lucknow, the capital of Uttar Pradesh, is growing very fast. With around 40 lakh people…
The Central Government has approved wage revision and pension revision for employees and pensioners in…
The Banaras Literature Festival has announced the winners of the 2nd Banaras Lit Fest Book…
Tamil Nadu has taken a major step in strengthening India’s multilingual literary culture by announcing…
The Odisha State Health Department has announced a strict ban on gutkha, pan masala, and…
Kirtida Mekani, an India-born environmental leader who made Singapore her home, passed away on January…