India-US Bilateral Trade Achieves Robust Growth in December 2024
ndia-US trade relations continue to flourish, with bilateral trade witnessing significant growth in December 2024. Despite global shipping disruptions caused by geopolitical tensions, both nations recorded strong performance in merchandise exports and imports.
New Delhi: India-US trade relations continue to flourish, with bilateral trade witnessing significant growth in December 2024. Despite global shipping disruptions caused by geopolitical tensions, both nations recorded strong performance in merchandise exports and imports.
According to official data, India’s merchandise exports to the US rose by 8.5% to $7 billion in December, while US exports to India surged nearly 10% to $3.77 billion during the same period. Major imports from the US included petroleum products, coal, coke, and electric machinery, showcasing a mutually beneficial trade relationship.
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India-US Trade Approaching New Milestones
From April to December 2024, bilateral trade between India and the US reached $93.4 billion, closely matching India’s trade with China, which stood at $94.6 billion during the same period.
A senior official remarked, “This growth highlights the strong two-way relationship between India and the US, benefiting both economies.”
Electronics Exports Lead the Surge
India’s electronics exports to the US have been a key growth driver.
- Electronics exports to the US increased by 27.4%, rising to $22.5 billion in April-November 2024-25 from $17.66 billion in the same period in 2023-24.
- The sector has witnessed exponential growth over the last two years, with exports doubling year-on-year to $6.6 billion during January-September 2023.
The shift of US companies like Apple toward diversifying supply chains outside China has positioned India as a preferred destination. Supported by local vendors like Foxconn, Pegatron, and Tata Electronics, smartphone exports alone recorded a 45% surge as leading players expanded production in India.
Key Highlights in Electronics Sector Growth
- Smartphones: India’s smartphone exports saw a 45% rise, driven by production expansions by Apple and Samsung.
- Consumer Electronics & Solar Modules: Significant export growth in desktops, routers, and solar modules.
- Semiconductor Manufacturing: With new semiconductor manufacturing facilities being established, electronics exports are expected to accelerate further.
Apparel Exports Show Strong Double-Digit Growth
India’s apparel exports surged by 11.6% to $11.31 billion during April-December 2024-25. This growth was fueled by increased demand in key markets, including the US, the UK, and Germany.
Sudhir Sekhri, Chairman of the Apparel Export Promotion Council (AEPC), attributed this growth to improved product acceptance, adaptability to changing consumer trends, compliance-focused factories, and government-friendly policies.
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India’s Expanding Export Portfolio
Electronics have now climbed to the third position among India’s top export sectors, behind engineering products and petroleum. This marks a significant leap from sixth position just a year ago.
India’s increasing dominance in electronics and apparel exports underscores the country’s growing importance in global trade. With robust trade partnerships, industry-friendly policies, and increased manufacturing capacity, India is poised for sustained growth in bilateral trade with the US.
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