Data collected by the commerce department showed that during January-September, two-way trade between India and the US jumped .The UNITED STATES was India’s top trading partner in the calendar year 2021 with a trade of $112.3 billion .The US has overtaken China as India’s largest trading partner. It is followed by China on second. The value of trade between India and China was $110.4 billion.

Trade in bilateral merchandise: It has been rightly said by The government during the April-October period this fiscal, the US has once again emerged as the largest trading partner of India with bilateral merchandise trade of USD 67.41 billion. The US has been the largest trading partner of India with respect to merchandise.

 BILATERAL TRADE WITH AUSTRALIA: India's bilateral trade with Australia has also increased to USD 13.88 billion in 2021, from USD 7.48 billion in the corresponding period of 2020.

BILATERAL TRADE WITH UAE: Similarly, the bilateral trade with UAE has grown to USD 49.06 billion in 2021, from USD 29.48 billion in 2020 for the same period.

BILATERAL TRADE WITH BELGIUM: The bilateral trade with Belgium has also grown to USD 13.70 in 2021, from USD 7.63 billion in 2020 for the same period

EXPORT OF GOODS & SERVICES :The share of export of goods and services in GDP has increased to 18.7 per cent during 2020-21, over 18.4 per cent in 2019-20, and 21.7 per cent in 2021-22 over 19.4 per cent in 2020-21 .

IMPORTS : India's import of pulses dipped marginally to 10,34,491 ton during April-September this fiscal, as against 10,39,861 ton in the same period last year. It was 24,66,156 ton in 2020-21 as against 28,98,078 ton in 2019-20.

There is a huge potential to boost bilateral trade between the countries on account of Increasing anti-China sentiment in both the nations .Because of the anti-China sentiment, several USA companies are exploring new suppliers in countries like India to cut dependence on China and if this happens, then it will greatly help India to boost exports to the USA.

Presence of Indian diaspora in the USA is one of the main reasons for increasing bilateral trade. A balanced trade deal can further boost the economic ties.

INDIA'S TRADE WITH CHINA :India’s trade with China in 2021 crossed USD125 billion with imports from China nearing a record USD100 billion, underlining continued demand for a range of Chinese goods, particularly machinery.

INDIA'S BIGGEST EXPORT TO CHINA :India’s biggest exports to China in recent years were iron ore, cotton and other raw material-based commodities, which have seen a recovery in demand in China last year (2021).

India has imported large quantities of electrical and mechanical machinery, Active Pharmaceutical Ingredients (APIs)a range of medical supplies from oxygen concentrators to Personal Protective Equipments (PPEs).

According to the Ministry of Commerce and Industry,India's 15 primary trading mates accounted for 59.37% of prevailing commerce in the fiscal year 1951–1952. These data substitute effects and materials business but not movements or FDI.

Mineral fuels and gold are India's two most important commodities. Mineral fuels were the most traded item in 2013–14, accounting for 181.383 billion US dollars in imports and 64.685 billion US dollars in re-exports after refining. Gold and its finished products were the second most traded goods in 2013–14, with 58.465 billion US dollars in imports and 41.692 billion US dollars in re-exports after value addition. In the fiscal year 2013–14, these two items accounted for 53% of all imports, 34% of total exports, and nearly 100% of India's entire trade imbalance. The commodities trade does not include the services trade. In 2017–18, the business excess in benefits trade was $70 billion.

The World Trade Organization puts India fifth in commercial service exports and sixth in commercial service imports, including the European Union. When the two primary markets of origin are China and the EU, the two main destinations of exported Indian products are the EU market and the US. According to the Ministry of Commerce and Industry, India's fifteen major trading partners accounted for 59.37 percent of overall trade in the fiscal year 2015–2016.