List of largest trading partners of India

2023-10-29T05:51:59Z

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According to the [[Ministry of Commerce and Industry (India)|Ministry of Commerce and Industry]], the fifteen '''largest trading partners of India''' represent 61.67% of total trade by India in the financial year 2022–23.<ref name=":0" /> These figures include trade in goods and commodities, but do not include services or [[foreign direct investment]].

The two largest goods traded by India are mineral fuels (refined / unrefined) and gold (finished gold ware / gold metal). In the year 2013–14, mineral fuels (HS code 27) were the largest traded item with 181.383 billion US$ worth imports and 64.685 billion US$ worth re-exports after refining. In the year 2024–2025, [[Gold Control Act|gold and its finished items]] (HS code 71) were the second largest traded items with 558.465 billion US$ worth imports and 41.692 billion US$ worth re-exports after value addition. These two goods are constituting 53% total imports, 34% total exports and nearly 100% of total [[Balance of trade|trade deficit]] (136 billion US$) of India in the financial year 2013–14.<ref name="June2013">{{cite web|title=Total Trade :: 25 Top countries|url=http://commerce.nic.in/eidb/iecnttopnq.asp|website=commerce.nic.in|access-date=20 December 2015|archive-url=https://web.archive.org/web/20181022073616/http://commerce.nic.in/eidb/iecnttopnq.asp|archive-date=22 October 2018|url-status=dead}}</ref> The services trade (exports and imports) are not part of commodities trade. The trade surplus in services trade is US$70 billion in the year 2017–18.<ref>{{cite web|title= Statistics - Services Export Promotion Council |url=http://www.servicesepc.org/statistics/|publisher=Department of Commerce|access-date=20 December 2015}}</ref>

Counting the European Union as one, the WTO ranks India fifth for commercial services exports and sixth for commercial services imports.<ref name="wto.org">{{Cite web |title=Trade Profiles 2017 |url=https://www.wto.org/english/res_e/booksp_e/trade_profiles17_e.pdf |access-date=26 February 2023 |website=World Trade Organization |pages=170–171}}</ref>

The two main destinations of exported Indian merchandises is the EU market and the US, when the two main markets of origin are China and the EU.<ref name=":0">{{Cite web |title=Export Import Data Bank |url=https://tradestat.commerce.gov.in/eidb/ecomq.asp |access-date=13 May 2023 |website=Ministry of Commerce and Industry}}</ref>
These figures include trade in goods and commodities, but do not include services or [[foreign direct investment]].

==Largest trading partners with India==
(Financial Year '''2022–23''') in $<ref name=":0" />
{| class="wikitable"
|+
!Exports
!Imports
!Total Trade
!Trade Balance
|-
!$450.06 billion
!$714.13 billion
!$1164.19 billion
!style="color:red;" |-$267.07 billion
|}

India exported about $450 billion merchandise in the financial year 2022-2023 and about $323 billion of services exports in the same financial year. India's largest trade partners with their total trade (sum of imports and exports) in billions of US dollars for the financial year 2022–23 were as follows:<ref name=":0" />

{| class="wikitable sortable"
|-
! Rank !! Country !! Exports !! Imports !! Total Trade !! Trade Balance
|-
| -
|{{flag|ASEAN}}
|44.07
|88.96
|133.03
|style="color:red;" |-44.89
|-
|-
| -
|{{flag|European Union}}
|73.67
|57.83
|131.50
|style="color:green;" |15.84
|-
|1
|{{flagcountry|United States}}
|71.39
|46.82
|118.21
|style="color:green;" |24.57
|-
|2
|{{flagcountry|China}}
|13.60
|90.72
|104.32
|style="color:red;" | -77.12
|-
|3
| {{flagcountry|United Arab Emirates}}
|28.76
|48.88
|77.64
|style="color:red;" | -20.12
|-
|4
| {{flagcountry|Saudi Arabia}}
|9.69
|38.62
|48.32
|style="color:red;" | -28.93
|-
|5
| {{flagcountry|Russia}}
|2.80
|41.56
|44.37
|style="color:red;" | -38.75
|-
|6
|{{flagcountry|Indonesia}}
|9.06
|26.89
|35.95
| style="color:red;" | -17.83
|-
|7
|{{flagcountry|Iraq}}
|2.33
|31.52
|33.86
| style="color:red;" | -29.18
|-
|8
| {{flagcountry|Singapore}}
|11.00
|21.70
|32.70
| style="color:red;" | -10.70
|-
|9
|{{flagcountry|Hong Kong}}
|9.36
|16.31
|25.68
| style="color:red;" | -6.95
|-
|10
|{{flagcountry|South Korea}}
|6.10
|19.26
|25.35
| style="color:red;" | -13.16
|-
|11
|{{flagcountry|Netherlands}}
|18.53
|5.52
|24.04
| style="color:green;" |13.01
|-
|12
|{{flagcountry|Australia}}
|6.49
|17.50
|23.97
|style="color:red;" |-11.00
|-
|13
|{{flagcountry|Germany}}
|9.21
|14.61
|23.82
|style="color:red;" | -5.40
|-
|14
|{{flagcountry|Japan}}
|4.99
|14.78
|19.77
| style="color:red;" | -9.79
|-
|15
|{{flagcountry|United Kingdom}}
|10.27
|8.43
|18.70
| style="color:green;" |1.84
|-
|16
|{{flagcountry|Malaysia}}
|6.63
|11.68
|18.31
|style="color:red;" | -5.05
|-
|17
|{{flagcountry|South Africa}}
|7.86
|9.86
|17.72
|style="color:red;" | -2.00
|-
|18
|{{flagcountry|Qatar}}
|1.82
|15.50
|17.31
|style="color:red;" | -13.68
|-
|19
|{{flagcountry|Belgium}}
|8.16
|8.36
|16.53
|style="color:red;" | -0.20
|-
|20
|{{flagcountry|Brazil}}
|9.19
|6.28
|15.46
|style="color:green;" |2.92
|-
|21
|{{flagcountry|Switzerland}}
|1.23
|14.22
|15.45
| style="color:red;" |-12.98
|-
|22
|{{flagcountry|Thailand}}
|5.22
|10.10
|15.31
| style="color:red;" | -4.88
|-
|23
|{{flagcountry|Vietnam}}
|5.30
|8.07
|13.37
| style="color:red;" | -2.77
|-
|24
|{{flagcountry|Italy}}
|7.81
|5.07
|12.88
| style="color:green;" |2.75
|-
|25
|{{flagcountry|Kuwait}}
|1.42
|11.40
|12.82
| style="color:red;" | -9.98
|-
| -
| ''Remaining Countries'' ||140.82
|112.51
|253.32
| style="color:green;" |28.31
|-
! colspan="2" | India's Total
! 409.06
! 656.13
! 1065.18
! style="color:red;" |-247.07
|}

==Countries to which India is the largest trading partner==
India is the primary export or import partner of several countries. The percentages on these tables are based on 2017 data as shown on the CIA World Factbook.
{|
| width="50%" align="left" |
| width="50%" align="left" |
|- valign="top"
| width="50%" align="left" style="margin-left:20%" |
{| class="wikitable sortable" style="margin-left:20%;"
|+Exports from these countries to India<ref>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/fields/2050.html|archive-url=https://web.archive.org/web/20070613004055/https://www.cia.gov/library/publications/the-world-factbook/fields/2050.html|url-status=dead|archive-date=June 13, 2007|work=[[The World Factbook]]|title=Exports – partners|access-date=2018-10-21}}</ref>
|-
! Region !! Percentage
|-
|{{flagcountry|Bhutan}}||style="text-align:center"|95.3%
|-
|{{flagcountry|Guinea-Bissau}}||style="text-align:center"|67.1%
|-
|{{flagcountry|Afghanistan}}||style="text-align:center"|56.5%
|-
|{{flagcountry|Nepal}}||style="text-align:center"|53.1%
|-
|{{flagcountry|Nigeria}}||style="text-align:center"|30.6%
|-
|{{flagcountry|Mozambique}}||style="text-align:center"|28.1%
|-
|{{flagcountry|Ghana}}||style="text-align:center"|23.8%
|-
|{{flagcountry|Tanzania}}||style="text-align:center"|21.8%
|-
|{{flagcountry|Iraq}}||style="text-align:center"|21.2%
|-
|{{nowrap|{{flagcountry|United Arab Emirates}}}}||style="text-align:center"|10.1%
|}
| width="50%" align="center" style="max-width:20%" |
{|class="wikitable sortable" style="margin-left:70%;"
|+Imports by these countries from India<ref>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/fields/2061.html|archive-url=https://web.archive.org/web/20070613003031/https://www.cia.gov/library/publications/the-world-factbook/fields/2061.html|url-status=dead|archive-date=June 13, 2007|work=[[The World Factbook]]|title=Imports – partners|access-date=2018-10-21}}</ref>
|-
! Region !! Percentage
|-
|{{flagcountry|Bhutan}}||style="text-align:center"|89.5%
|-
|{{flagcountry|Nepal}}||style="text-align:center"|70.2%
|-
|{{nowrap|{{flagcountry|Sri Lanka}}}}||style="text-align:center"|22.0%
|-
|{{flagcountry|Burundi}}||style="text-align:center"|18.5%
|-
|{{flagcountry|Mauritius}}||style="text-align:center"|17.9%
|-
|{{flagcountry|Tanzania}}||style="text-align:center"|16.5%
|}
|}

==Export partners==
India exports approximately 7500 commodities to about 192 countries.<ref name="FK Publications">{{Cite book|url=https://books.google.com/books?id=MvudnXqAPWAC|title=Macroeconomics and Elementary Statistics|publisher=FK Publications|isbn=9788187140900|language=en}}</ref> The following table shows India's 10 largest destinations for exports in 2022–23.<ref name=":0" />
{| class="wikitable"
!Rank
!Country
!Value (US$ billion)
!Share of overall exports
|-
|1
|{{flagcountry|United States}}
|71.39
|17.45%
|-
|2
|{{flagcountry|United Arab Emirates}}
|28.76
|7.03%
|-
|3
|{{flagcountry|Netherlands}}
|18.53
|4.53%
|-
|4
|{{flagcountry|China}}
|13.60
|3.33%
|-
|5
|{{flagcountry|Singapore}}
|11.00
|2.69%
|-
|6
|{{flagcountry|United Kingdom}}
|10.27
|2.51%
|-
|7
|{{flagcountry|Saudi Arabia}}
|9.69
|2.37%
|-
|8
|{{flagcountry|Hong Kong}}
|9.36
|2.29%
|-
|9
|{{flagcountry|Germany}}
|9.21
|2.25%
|-
|10
|{{flagcountry|Brazil}}
|9.19
|2.25%
|}

==Import partners==
India imports around 6000 commodities from 140 countries.<ref name="FK Publications"/> The following table shows India's 10 largest sources of imports in 2022–23.<ref name=":0" />

{| class="wikitable"
!Rank
!Country
!Value (US$ billion)
!Share of overall imports
|-
|1
|{{flagcountry|China}}
|90.72
|13.83%
|-
|2
|{{flagcountry|United Arab Emirates}}
|48.88
|7.45%
|-
|3
|{{flagcountry|United States of America}}
|46.82
|7.14%
|-
|4
|{{flagcountry|Russia}}
|41.56
|6.33%
|-
|5
|{{flagcountry|Saudi Arabia}}
|38.62
|5.89%
|-
|6
|{{flagcountry|Iraq}}
|31.52
|4.84%
|-
|7
|{{flagcountry|Indonesia}}
|26.89
|4.10%
|-
|8
|{{flagcountry|Singapore}}
|21.70
|3.31%
|-
|9
|{{flagcountry|South Korea}}
|19.26
|2.94%
|-
|10
|{{flagcountry|Australia}}
|17.50
|2.67%
|}

==See also==
; India related
* [[Foreign trade of India]]
* [[Economy of India]]
* [[Foreign-exchange reserves of India]]
* [[Remittances to India]]
* [[Business process outsourcing to India]]
* [[List of exports of India]]
* [[Indian diaspora]]
* [[Indianisation]]

; Lists
* [[List of countries by leading trade partners]]
* [[List of the largest trading partners of the ASEAN]]
* [[List of the largest trading partners of the United States]]
* [[List of the largest trading partners of the European Union]]
* [[List of the largest trading partners of China]]
* [[List of the largest trading partners of Australia]]
* [[List of the largest trading partners of Canada]]

==References==
{{Reflist}}

{{Trade}}

{{DEFAULTSORT:Trading Partners Of India}}
[[Category:Economy of India lists|Trading partners]]
[[Category:Foreign trade of India]]
[[Category:Economy-related lists of superlatives]]
[[Category:Indian superlatives]]
[[Category:Lists of trading partners]]

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List of largest trading partners of India