New Delhi: Bilateral trade between India and the US rose by almost 8 percent to $128.55 billion in 2022-23, compared to $119.5 billion in 2021-22. The growth in bilateral trade between the two countries is significant, considering the fact that in 2020-21, it was only $80.51 billion, according to Commerce Ministry data.

Exports to the US rose by 2.81 percent to $78.31 billion in 2022-23 as against $76.18 billion in 2021-22, while imports grew by about 16 percent to $50.24 billion. (Also Read: 4 Best Smartphones You Can Consider Buying Under Rs 10,000 – Check Out List)

At the same time, India’s bilateral trade with China fell by 1.5 percent in 2022-23 to $114 billion, compared to $115 billion in 2021-22. (Also Read: Amazon CEO’s Total Pay Gets 99% Less In 2022 Than What He Got In 2021)

Exports to China fell by 28 percent to $15.32 billion in 2022-23, while imports rose by 4 percent to $98.51 billion in 2021-22.