China has reclaimed its position as India’s largest trading partner, surpassing the United States after two years. In the fiscal year 2024, India’s bilateral trade with China totalled $118.4 billion, with imports rising by 3.24% to $101.7 billion and exports increasing by 8.7% to $16.67 billion. Conversely, trade between India and the US experienced a slight decline, with two-way trade totalling $118.3 billion in FY24.