What is the primary source of data for identifying India's largest trading partners, and for which financial year is the information presented?

The primary source for identifying India's largest trading partners is the Ministry of Commerce and Industry. The data presented in the article pertains to the financial year 2022-23 for overall trade partner percentages and the financial year 2023-24 for specific country rankings, with some export and import data also provided for 2024-25.

What percentage of India's total trade is represented by its fifteen largest trading partners?

The fifteen largest trading partners of India account for 61.67% of India's total trade. This figure encompasses trade in goods and commodities.

Does the data on India's largest trading partners include trade in services or foreign direct investment?

No, the figures presented for India's largest trading partners include trade in goods and commodities only. Trade in services and foreign direct investment are explicitly excluded from these specific statistics.

What are the two largest goods traded by India, and what role do they play in the country's trade balance?

The two largest goods traded by India are mineral fuels (both refined and unrefined) and gold (in the form of finished gold ware or gold metal). These two commodities significantly contribute to India's total trade deficit, constituting a substantial portion of both imports and exports.

How did mineral fuels and gold contribute to India's trade deficit in the financial year 2013-14?

In the financial year 2013-14, mineral fuels and gold together accounted for 53% of total imports and 34% of total exports. Crucially, they were responsible for nearly 100% of India's total trade deficit, which amounted to 136 billion US dollars.

What was India's trade surplus in services for the year 2017-18?

In the financial year 2017-18, India recorded a trade surplus of US$70 billion in services. This indicates that India exported more services than it imported during that period.

According to the World Trade Organization, how does India rank in commercial services exports and imports, considering the European Union as a single entity?

The World Trade Organization ranks India fifth globally for commercial services exports and sixth for commercial services imports. This ranking treats the European Union as a single entity.

What were India's total merchandise exports and imports in billions of US dollars for the financial year 2023-24?

For the financial year 2023-24, India's merchandise exports were valued at $437.072 billion, and its merchandise imports were valued at $678.215 billion.

What was India's merchandise trade balance in the financial year 2023-24?

India's merchandise trade balance for the financial year 2023-24 was a deficit of $241.143 billion.

What were India's service exports and imports in billions of US dollars for the financial year 2023-24?

In the financial year 2023-24, India's service exports were valued at $341.107 billion, and its service imports were valued at $178.324 billion.

What was India's service trade balance in the financial year 2023-24?

India's service trade balance for the financial year 2023-24 was a surplus of $162.783 billion.

What was India's net overall trade balance in the financial year 2023-24?

India's net overall trade balance for the financial year 2023-24 was a deficit of $78.360 billion.

Which entity is listed as India's largest trading partner in terms of total trade for the financial year 2023-24, and what was the total trade value?

The United States is listed as India's largest trading partner for the financial year 2023-24, with a total trade value of $130.3 billion.

What was the trade balance between India and the United States in the financial year 2023-24?

In the financial year 2023-24, India had a trade surplus of $45.01 billion with the United States.

Which country ranks second in total trade with India for the financial year 2023-24, and what was the trade balance?

China ranks second in total trade with India for the financial year 2023-24, with a total trade value of $118.41 billion. India experienced a significant trade deficit of $85.09 billion with China.

What is the total trade value between India and the United Arab Emirates for the financial year 2023-24, and what is the trade balance?

The total trade value between India and the United Arab Emirates for the financial year 2023-24 was $83.65 billion. India had a trade deficit of $12.39 billion with the UAE.

How does Russia rank among India's trading partners for the financial year 2023-24, and what is the associated trade balance?

Russia ranks fourth among India's trading partners for the financial year 2023-24, with a total trade value of $65.69 billion. India incurred a substantial trade deficit of $57.17 billion with Russia.

What was the total trade volume between India and Saudi Arabia in the financial year 2023-24, and what was the trade balance?

The total trade volume between India and Saudi Arabia in the financial year 2023-24 was $43.37 billion. India had a trade deficit of $20.25 billion with Saudi Arabia.

Which bloc is listed as India's third largest trading partner for the financial year 2023-24, and what is its trade balance with India?

The ASEAN bloc is listed as India's third largest trading partner for the financial year 2023-24, with a total trade value of $120.88 billion. India recorded a trade deficit of $38.46 billion with ASEAN.

What is the total trade value between India and the European Union (EU) for the financial year 2023-24, and what is the trade balance?

The total trade value between India and the European Union for the financial year 2023-24 was $135.31 billion. India maintained a trade surplus of $16.55 billion with the EU.

What was the total trade between India and Singapore in the financial year 2023-24, and what was the trade balance?

In the financial year 2023-24, the total trade between India and Singapore was $35.61 billion. India experienced a trade deficit of $6.79 billion with Singapore.

What was the total trade value between India and Iraq in the financial year 2023-24, and what was the trade balance?

The total trade value between India and Iraq in the financial year 2023-24 was $33.35 billion. India had a trade deficit of $26.65 billion with Iraq.

What were India's exports to Japan and its imports from Japan in the financial year 2023-24, and what was the resulting trade balance?

In the financial year 2023-24, India's exports to Japan were $5.16 billion, and its imports from Japan were $17.70 billion. This resulted in a trade deficit of $12.54 billion for India.

Which countries are listed as having India as their largest trading partner for exports, and what percentage of their exports go to India?

Based on 2017 data, India is the largest trading partner for exports for Bhutan (95.3%), Guinea-Bissau (67.1%), Afghanistan (56.5%), Nepal (53.1%), Nigeria (30.6%), Mozambique (28.1%), Ghana (23.8%), Tanzania (21.8%), Iraq (21.2%), and the United Arab Emirates (10.1%).

Which countries are listed as having India as their largest trading partner for imports, and what percentage of their imports come from India?

Based on 2017 data, India is the largest source of imports for Bhutan (89.5%), Nepal (70.2%), Sri Lanka (22.0%), Burundi (18.5%), Mauritius (17.9%), and Tanzania (16.5%).

What were India's top 10 export destinations in terms of value for the financial year 2024-25?

For the financial year 2024-25, India's top 10 export destinations were: 1. United States ($76.38 billion), 2. United Arab Emirates ($33.26 billion), 3. Netherlands ($21.01 billion), 4. United Kingdom ($13.17 billion), 5. China ($12.74 billion), 6. Singapore ($12.11 billion), 7. Saudi Arabia ($10.78 billion), 8. Bangladesh ($10.43 billion), 9. Germany ($9.51 billion), and 10. Australia ($7.79 billion).

What was the share of the United States in India's overall exports for the financial year 2024-25?

The United States accounted for 17.73% of India's overall exports in the financial year 2024-25, with a value of $76.38 billion.

What were India's top 10 sources of imports in terms of value for the financial year 2024-25?

For the financial year 2024-25, India's top 10 sources of imports were: 1. China ($103.78 billion), 2. Russia ($58.29 billion), 3. United Arab Emirates ($55.75 billion), 4. United States ($41.62 billion), 5. Saudi Arabia ($26.82 billion), 6. Iraq ($26.14 billion), 7. Switzerland ($21.06 billion), 8. Indonesia ($20.99 billion), 9. Singapore ($19.48 billion), and 10. South Korea ($19.42 billion).

What was the share of China in India's overall imports for the financial year 2024-25?

China represented 15.06% of India's overall imports in the financial year 2024-25, with a value of $103.78 billion.

What was the total value of India's imports from Russia in the financial year 2024-25, and what percentage did this represent of India's overall imports?

India's imports from Russia in the financial year 2024-25 were valued at $58.29 billion, constituting 9.10% of India's overall imports.

What was the total trade value between India and Switzerland for the financial year 2024-25, and what was the trade balance?

In the financial year 2024-25, the total trade value between India and Switzerland was $21.06 billion. India had a trade deficit of $3.14 billion with Switzerland.

What are some of the related topics listed under 'See also' in the article?

Related topics listed under 'See also' include the 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, and various lists concerning the largest trading partners of other countries and regions like ASEAN, the United States, and China.

What was India's total merchandise trade in the financial year 2024-25?

India's total merchandise trade in the financial year 2024-25 was $1157.659 billion, comprising $437.416 billion in exports and $720.243 billion in imports.

What was India's net overall trade balance for the financial year 2024-25?

For the financial year 2024-25, India's net overall trade balance was a deficit of $94.004 billion.

What is the significance of the 'Remaining Countries' entry in the trading partners table for FY 2023-24?

The 'Remaining Countries' entry represents the aggregate trade figures for all countries not explicitly listed in the top 25. In FY 2023-24, these remaining countries accounted for $244.97 billion in total trade, with a surplus of $15.69 billion for India.

How does the total trade value between India and the European Union compare to that with the United States in FY 2023-24?

In FY 2023-24, the total trade value between India and the European Union was $135.31 billion, while the total trade value with the United States was $130.3 billion. Thus, the EU had a slightly higher total trade value with India than the US during this period.

What is the difference in India's trade balance with China and the United States in FY 2023-24?

In FY 2023-24, India had a trade deficit of $85.09 billion with China and a trade surplus of $45.01 billion with the United States. This indicates a significantly larger negative trade balance with China compared to a positive balance with the US.

Which countries show a trade surplus for India in the FY 2023-24 top trading partners list?

In the FY 2023-24 list of top trading partners, India shows a trade surplus with the European Union ($16.55 billion), the United States ($45.01 billion), and the Netherlands ($17.40 billion).

What is the total value of India's exports to the United Arab Emirates in FY 2024-25, and what percentage does this represent of its overall exports?

In FY 2024-25, India's exports to the United Arab Emirates were valued at $33.26 billion, representing 8.15% of India's overall exports.

What is the total value of India's imports from Saudi Arabia in FY 2024-25, and what percentage does this represent of India's overall imports?

In FY 2024-25, India's imports from Saudi Arabia were valued at $26.82 billion, representing 4.71% of India's overall imports.

What was the total trade between India and Japan in FY 2023-24, and what was the trade balance?

In FY 2023-24, the total trade between India and Japan was $22.86 billion. India had a trade deficit of $12.54 billion with Japan.

What was the total trade between India and the United Kingdom in FY 2024-25, and what was the trade balance?

In FY 2024-25, the total trade between India and the United Kingdom was $21.34 billion. India had a trade surplus of $4.50 billion with the UK.

What percentage of Bhutan's exports go to India, according to the 2017 data?

According to 2017 data, 95.3% of Bhutan's exports are directed to India, making India its primary export partner.

What percentage of Nepal's imports come from India, according to the 2017 data?

Based on 2017 data, 70.2% of Nepal's imports originate from India, highlighting India's significant role as a supplier to Nepal.

What was the total trade between India and Australia in FY 2024-25, and what was the trade balance?

In FY 2024-25, the total trade between India and Australia was $24.10 billion. India had a trade deficit of $8.22 billion with Australia.

What was the total trade between India and South Korea in FY 2024-25, and what was the trade balance?

In FY 2024-25, the total trade between India and South Korea was $27.56 billion. India had a trade deficit of $14.72 billion with South Korea.

What was the total trade between India and Indonesia in FY 2024-25, and what was the trade balance?

In FY 2024-25, the total trade between India and Indonesia was $29.40 billion. India had a trade deficit of $17.42 billion with Indonesia.

What was the total trade between India and Russia in FY 2024-25, and what was the trade balance?

In FY 2024-25, the total trade between India and Russia was $65.69 billion. India had a trade deficit of $57.17 billion with Russia.

What was the total trade between India and China in FY 2024-25, and what was the trade balance?

In FY 2024-25, the total trade between India and China was $118.41 billion. India had a trade deficit of $85.09 billion with China.

What was the total trade between India and the United States in FY 2024-25, and what was the trade balance?

In FY 2024-25, the total trade between India and the United States was $130.3 billion. India had a trade surplus of $45.01 billion with the United States.

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Contextualizing Trade Dynamics

Significance of Trade Partners

India's economic landscape is significantly shaped by its international trade relationships. The fifteen largest trading partners, as reported by the Ministry of Commerce and Industry, collectively account for approximately 61.67% of India's total trade in goods and commodities for the financial year 2022-23. It is important to note that these figures specifically encompass merchandise trade and exclude trade in services and foreign direct investment (FDI), which represent distinct but crucial components of India's global economic engagement.

Key Commodities and Trade Balance

The primary drivers of India's merchandise trade balance are consistently mineral fuels (both refined and unrefined) and gold. In the financial year 2013-14, these two categories alone constituted a substantial portion of imports and re-exports, contributing significantly to the overall trade deficit. While merchandise trade often presents a deficit, India maintains a robust trade surplus in services, which helps to partially offset the merchandise imbalance. The World Trade Organization (WTO) recognizes India's growing prominence, ranking it fifth globally for commercial services exports and sixth for imports.

Major Trade Flows

Geographically, the European Union (EU) and the United States emerge as the principal destinations for India's exports. Conversely, India's imports are predominantly sourced from China and the EU. Understanding these directional flows is critical for analyzing India's position within the global supply chain and its strategic economic partnerships.

Overall Trade Performance

An overview of India's trade performance, encompassing both merchandise and services, provides essential context for understanding the nation's economic trajectory. The following table illustrates the trade balances across different financial years.

Merchandise and Services Trade

Overall Foreign Trade Data (in billion US$)
Financial Year	Merchandise Exports	Merchandise Imports	Total Merchandise Trade	Merchandise Trade Balance	Service Exports	Service Imports	Total Service Trade	Service Trade Balance	Net Overall Trade
2024-25	437.416	720.243	1157.659	-282.827	387.540	198.717	586.257	+188.823	-94.004
2023-24	437.072	678.215	1115.287	-241.143	341.107	178.324	519.431	+162.783	-78.360

Principal Trading Partners

The following table details India's major trading partners, ranked by total trade volume (exports plus imports) for the financial year 2023-24. It highlights the export and import values in billions of US dollars and the resulting trade balance for each partner.

Top Trading Partners (FY 2023-24)

India's Largest Trading Partners (FY 2023-24)
Rank	Country	Exports (Billion US$)	Imports (Billion US$)	Total Trade (Billion US$)	Trade Balance (Billion US$)
-	GCC	56.32	105.49	161.82	-49.17
-	European Union	75.93	59.38	135.31	16.55
-	ASEAN	41.21	79.67	120.88	-38.46
1	United States	88.02	43.01	130.3	45.01
2	China	16.66	101.75	118.41	-85.09
3	United Arab Emirates	35.63	48.02	83.65	-12.39
4	Russia	4.26	61.43	65.69	-57.17
5	Saudi Arabia	11.56	31.81	43.37	-20.25
6	Singapore	14.41	21.20	35.61	-6.79
7	Iraq	3.35	30.00	33.35	-26.65
8	Indonesia	5.99	23.41	29.40	-17.42
9	Hong Kong	8.24	20.45	28.69	-12.21
10	South Korea	6.42	21.14	27.56	-14.72
11	Netherlands	22.37	4.97	27.34	17.40
12	Germany	9.84	16.27	26.11	-6.43
13	Australia	7.94	16.16	24.10	-8.22
14	Japan	5.16	17.70	22.86	-12.54
15	Switzerland	1.53	21.24	22.77	-19.71
16	United Kingdom	12.92	8.42	21.34	4.50
17	Malaysia	7.26	12.75	20.01	-5.49
18	South Africa	8.71	10.54	19.25	-1.83
19	Belgium	7.84	7.24	15.08	0.60
20	Thailand	5.04	9.91	14.95	-4.87
21	Vietnam	5.47	9.35	14.81	-3.86
22	Italy	8.77	5.80	14.56	2.97
23	Qatar	1.70	12.38	14.08	-10.68
24	France	7.14	6.24	13.38	0.90
25	Bangladesh	11.06	1.84	12.91	9.22
-	Remaining Countries	130.33	114.64	244.97	15.69
India's Total		437.11	675.43	1112.54	-238.32

Key Export Destinations

India's export strategy focuses on key global markets. The following table outlines the top ten countries receiving Indian exports, detailing the value in billions of US dollars and their respective share of India's overall exports for the financial year 2024-25.

Top Export Partners (FY 2024-25)

Rank	Country	Value (US$ billion)	Share of Overall Exports
1	United States	76.38	17.73%
2	United Arab Emirates	33.26	8.15%
3	Netherlands	21.01	5.12%
4	United Kingdom	13.17	2.96%
5	China	12.74	3.81%
6	Singapore	12.11	3.30%
7	Saudi Arabia	10.78	2.65%
8	Bangladesh	10.43	2.53%
9	Germany	9.51	2.25%
10	Australia	7.79	2.01%

Primary Import Sources

India relies on several key nations for its imports. The table below presents the top ten countries from which India sources its goods, detailing the import value in billions of US dollars and their percentage share of India's total imports for the financial year 2024-25.

Top Import Partners (FY 2024-25)

Rank	Country	Value (US$ billion)	Share of Overall Imports
1	China	103.78	15.06%
2	Russia	58.29	9.10%
3	United Arab Emirates	55.75	7.11%
4	United States	41.62	6.04%
5	Saudi Arabia	26.82	4.71%
6	Iraq	26.14	4.44%
7	Switzerland	21.06	3.14%
8	Indonesia	20.99	3.47%
9	Singapore	19.48	3.14%
10	South Korea	19.42	3.13%

India's Role in Global Trade

Examining the countries where India holds a dominant position as a primary trading partner provides further insight into the intricate web of global commerce.

Exports to India: Key Partners

This data, based on 2017 figures, indicates countries for which India represents a significant portion of their export market.

Exports from these countries to India (Percentage of their Exports)
Region	Percentage
Bhutan	95.3%
Guinea-Bissau	67.1%
Afghanistan	56.5%
Nepal	53.1%
Nigeria	30.6%
Mozambique	28.1%
Ghana	23.8%
Tanzania	21.8%
Iraq	21.2%
United Arab Emirates	10.1%

Imports from India: Key Partners

Conversely, this data highlights countries that rely heavily on India for their imports, based on 2017 figures.

Imports by these countries from India (Percentage of their Imports)
Region	Percentage
Bhutan	89.5%
Nepal	70.2%
Sri Lanka	22.0%
Burundi	18.5%
Mauritius	17.9%
Tanzania	16.5%

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References

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Important Notice

This document has been generated by an Artificial Intelligence, synthesizing information from publicly available data sources, including Wikipedia and official government reports. It is intended solely for educational and informational purposes.

This is not financial or economic advice. The data presented herein is based on specific reporting periods and may not reflect the most current economic conditions. Fluctuations in global markets, geopolitical events, and policy changes can significantly impact trade dynamics. Users should not rely solely on this information for making investment or business decisions.

Always consult official, up-to-date reports from the Ministry of Commerce and Industry, Reserve Bank of India, and other relevant governmental bodies, or consult with qualified economic and trade professionals for accurate and timely insights.

The creators of this content are not liable for any errors, omissions, or actions taken based on the information provided.

India's Global Trade Nexus

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Contextualizing Trade Dynamics ℹ️

📈 Significance of Trade Partners

⚖️ Key Commodities and Trade Balance

🌏 Major Trade Flows

Overall Trade Performance 📊

📦 Merchandise and Services Trade

Principal Trading Partners 🤝

📊 Top Trading Partners (FY 2023-24)

Key Export Destinations ➡️

📈 Top Export Partners (FY 2024-25)

Primary Import Sources ⬅️

📦 Top Import Partners (FY 2024-25)

India's Role in Global Trade 🌐

⬆️ Exports to India: Key Partners

⬇️ Imports from India: Key Partners

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Contextualizing Trade Dynamics

Significance of Trade Partners

Key Commodities and Trade Balance

Major Trade Flows

Overall Trade Performance

Merchandise and Services Trade

Principal Trading Partners

Top Trading Partners (FY 2023-24)

Key Export Destinations

Top Export Partners (FY 2024-25)

Primary Import Sources

Top Import Partners (FY 2024-25)

India's Role in Global Trade

Exports to India: Key Partners

Imports from India: Key Partners

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References

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