China trade is holding at much the same level as USA
China and the USA might fluctuate in terms of who is the biggest trading partner of India, but the one stable thing is that they both remain around the same level as India’s biggest trading partners.
If you pay attention to the posturing over border clashes with China and the “contain China” rhetoric of the QUAD, you will be surprised that very little has changed in India’s trading relationships. There might be change ahead, but it is not happening now.
In Fiscal 21, China two-way trade is at US$86 billion, USA US$80 billion, and UAE US$43 billion.
The countries that India IMPORTS vastly more than it exports are (roughly in order) China, Germany, Saudi Arabia, Australia, Japan, Kuwait, Indonesia, Iran, Switzerland and Iraq.
While the US trade does favour the US, it is the closest major trading partner to delivering anything remotely close to trade balance – India exports roughly US$38billion while it imports US$50 billion.
Smaller partners that Indian EXPORTS dominate the relationship are Bangladesh and Sri Lanka.
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Author: Stephen Manallack
Former President, Australia India Business Council, Victoria and Author, You Can Communicate; Riding the Elephant; Soft Skills for a Flat World (published by Tata McGraw-Hill INDIA); Communicating Your Personal Brand.
Director, EastWest Academy Pty Ltd and Trainer/Speaker/Mentor in Leadership, Communication and Cross Cultural Communication.
Passionate campaigner for closer western relations with India.
Stephen Manallack is a specialist on “Doing Business with India” and advisor/trainer on “Cross-Cultural Understanding”. He is a Director of EastWest Academy Pty Ltd which provides strategic advice and counsel regarding business relations with India.
A regular speaker in India on leadership and global communication, his most recent speaking tour included a speech to students of the elite Indian university, Amity University, in Noida. He also spoke at a major Federation of Indian Chambers of Commerce and Industry (FICCI) global summit, the PR Consultants Association of India in Delhi, the Symbiosis University in Pune and Cross-Cultural Training for Sundaram Business Services in Chennai. He has visited India on business missions on 10 occasions and led three major trade missions there. He provides cross-cultural training – Asia and the west.
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