China emerges as India's top import source during April-September 2024

China has emerged arsenic India's apical import root with $56.29 cardinal worthy of inbound shipments during the April-September play of this fiscal, according to the commerce ministry data. During the period, the US emerged arsenic the apical export destination for the state with outbound shipments expanding by 5.62 per cent to $40.38 billion.

The imports from China roseate by 11.5 per cent during the archetypal fractional of this fiscal. The imports stood astatine $50.48 cardinal during April-September 2023. During the period, the apical 10 import sources of India were China, Russia, the UAE, the US, Iraq, Saudi Arabia, Indonesia, Korea, Switzerland and Singapore, the information showed.

Imports from Russia roseate to $32.18 cardinal during April-September this fiscal from USD 30.43 cardinal a twelvemonth ago. Similarly, the inbound shipments from the UAE roseate to USD 31.46 cardinal from $20.70 cardinal successful the archetypal fractional of the past fiscal.

During the period, the apical 10 export destinations of the state were the US, the UAE, the Netherlands, the UK, China, Singapore, Saudi Arabia, Bangladesh, Germany and South Africa. Exports to the UAE roseate from $15.47 cardinal during April-September 2023 to $17.24 cardinal during April-September this fiscal.

Similarly, outbound shipments to China accrued to $6.91 cardinal from USD 7.63 cardinal successful the archetypal fractional of the past fiscal. In 2023-24, the US was India's largest trading partner, followed by China.

China was India's apical trading spouse from 2013-14 till 2017-18 and successful 2020-21. Before China, the UAE was the country's largest trading partner. The US was besides the largest spouse successful 2021-22 and 2022-23.