List of largest trading partners of India
India is a vast and rapidly growing economy which is a important player in the global trade.
As shown by the import export data The location of these diverse industries and the customers have also made it an attractive trading partner for many countries all around the world.
If you are someone who is looking for a list of partners who trade with India then this post is for you
In this blog we will look at the the list of India’s largest trading partners and will also look at some factors that makes good trade connections.
- United States:
The United States is one the most important trading partners of India .
Th import and export of goods between India and the USA has been growing continuously over the years.
The growth is now mainly because of sectors like information technology and pharmaceuticals . Not only the relationship is limited to trade both countries have also good political relationship The U.S is a prominent source of foreign direct investment in India .
- China:
As per the import export data we know that the relationship between China & India is not that good .
While trade between the two countries has expanded there are also some problems that are related to trade and territorial disputes.
The Sectors in which both countries trade in is electronics, chemicals and machinery.
- United Arab Emirates (UAE):
The global import export data shows that UAE is a important trading partner for India in the Middle East.
It is a major hub for re exporting Indian goods to other countries in the area.
The countries together import or export goods that are of different sectors these sectors are petroleum products, gems and jewelry and textiles.
- Saudi Arabia:
Saudi Arabia is another prominent player in India’s trade portfolio.
The two nations have a strong energy partnership with India as a best importer of Saudi crude oil.
Apart from energy, trade also includes chemicals, metals, and agricultural products.
- Germany:
Germany and India have been in trade for a long time now . The trade between the two nations is very wide . The sectors in which they thread in is industries like automotive, machinery and pharmaceuticals.
Also the India’s “Make in India” initiative has attracted German investments and collaborations that also helps in enhancing relationships.
- Japan:
The trade data India shows Japan has been a source of technology, investments and expertise for India. They trade in sectors like automobiles, electronics and infrastructure development.
- Singapore:
Singapore is located as a place that acts as a gateway for Indian businesses to enter the Southeast Asian market..
The import and exports of goods between the countries happen in sectors like finance, information technology and biotechnology.
The India Singapore Comprehensive Economic Cooperation Agreement (CECA) has also been playing an important role in improving economic relations.
Conclusion:
Import export data is one of the most important resource for any business that is involved in the trading business