Top 10 Trading Partners of India in 2024: A Complete Guide

Did you know? India has steadily evolved into a global trade powerhouse, strengthening its role in the international supply chain. With a growing manufacturing base, expanding services sector, and strong agricultural exports, India has become a preferred trade partner for many global economies. At the same time, India relies heavily on imports such as crude oil, coal, machinery, and electronics, making its trade relations highly dynamic.

In this blog, we will explore the top trading partners of India, highlight India’s export and import performance, and analyze the strategic importance of India’s major trade partners.

Overview of India’s International Trade

India is now among the world’s top 20 trading nations, with total trade (exports + imports) crossing $1.6 trillion in FY 2023–24.

  • Top Indian exports: Petroleum products, pharmaceuticals, gems & jewellery, engineering goods, textiles, and IT services.

  • Top Indian imports: Crude oil, electronics, gold, industrial machinery, chemicals, and fertilizers.

According to India Import and Export Data, India’s exports hit a record $824.9 billion in FY 2024–25, driven by a 13.6% rise in services exports and a 6% increase in merchandise exports (excluding petroleum).

India’s Trade Performance (FY 2024–25)

  • Total Exports: $824.9 billion | Growth: 6.01% | Previous Year: $778.1 billion

  • Services Exports: $387.5 billion | Growth: 13.6% | Previous Year: $341.1 billion

  • Merchandise Exports (excluding petroleum): $374.1 billion | Growth: 6.0% | Previous Year: $352.9 billion

  • Imports: $915.19 billion | Growth: 6.85% | Previous Year: Not provided

  • Trade Deficit: $26.42 billion | Growth: Not provided | Previous Year: Not provided

Top 10 Trading Partners of India in 2024

India’s trade partnerships are spread across the globe, but certain economies dominate its Exim Data. Below is the list of the Top 10 Trading Partners of India in 2024:

  1. United States
  2. China
  3. United Arab Emirates
  4. Saudi Arabia
  5. Russia
  6. Indonesia
  7. Iraq
  8. Singapore
  9. Hong Kong
  10. South Korea
India’s Major Trade Partners: Country-wise Insights

1. United States – The Biggest Trade Partner of India

  • Total Trade: $118.21 billion

  • Exports: Jewellery, textiles, pharmaceuticals, IT services

  • Imports: Machinery, crude oil, chemicals

  • The USA remains the biggest trade partner of India, contributing nearly 18% of India’s total exports.

2. China

  • Total Trade: $104.32 billion

  • Exports: Cotton, marine products, iron ore

  • Imports: Electronics, chemicals, machinery

  • Despite being a key source of imports, India has a large trade deficit with China.

3. United Arab Emirates (UAE)

  • Total Trade: $77.64 billion

  • Exports: Rice, petroleum products, textiles

  • Imports: Crude oil, natural gas

  • A vital hub for India’s re-exports and one of the strongest export partners of India.

4. Saudi Arabia

  • Total Trade: $48.32 billion

  • Exports: Rice, textiles, pharmaceuticals

  • Imports: Crude oil, petrochemicals

  • Energy trade dominates, creating a heavy trade imbalance.

5. Russia

  • Total Trade: $44.37 billion

  • Exports: Tea, spices, medicines

  • Imports: Fertilizers, defence equipment, crude oil

  • A fast-growing trade partner, especially for energy imports.

Export Partners of India

According to India’s Export Data:

  1. United States – $77.52 billion (17.7%)

  2. UAE – $35.62B (8.1%)

  3. Netherlands – $22.37 billion (5.1%)

  4. China – $16.66 billion (3.8%)

  5. Singapore – $14.14 billion (3.3%)

These top export partners of India account for more than half of India’s global exports.

Import Partners of India

Based on India Import Data:

  1. China – $101.75 billion (15.1%)

  2. Russia – $61.43 billion (9.1%)

  3. UAE – $48.02 billion (7.1%)

  4. United States – $40.77 billion (6%)

  5. Saudi Arabia – $31.81 billion (4.7%)

China continues to dominate as India’s largest import source, particularly in electronics, chemicals, and machinery.

Final Thoughts

India’s trade relations are not just economic—they carry strategic importance. As India strengthens ties with the top 10 major trading partners of India, it balances exports like IT services, pharmaceuticals, and petroleum products with imports of crude oil, gold, machinery, and electronics.

For businesses, traders, and investors, understanding India’s major trade partners helps identify growth opportunities. To access updated India Import and Export Data, connect with a trusted Import Export Data Provider like ExportImportData.in and gain real-time trade insights.

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