PM Modi Visit US: prime minister of India Narendra Modi (Narendra Modi) has gone on his first state visit to America. This visit of PM Modi has angered China, and its top diplomat Wang Yi has made scathing comments on both India and America. Wang said- ‘Enhancing friendship with India is a selfish game of America (US), and instead of becoming a part of it, India should increase trade relations with China. India or any other country cannot leave us behind in the supply chain.
Let us tell you that America and China are the only countries with which India has a trade of more than 100 billion dollars every year. In this way, these countries are the biggest trading partners of India. Economic experts say that in the last few years, India has given importance to America instead of China and in 2022, America has become India’s largest trading partner, leaving China behind. And, now in the recent visit of PM Modi, new life can be infused in the business relations between India and America.
Dragon said- ‘You will keep buying more from us’
India will do more business with America, because of which the Chinese government has got chilly, in such a situation, the Global Times, which is considered to be the mouthpiece of the ruling Communist Party there, has written quoting Wang that- ‘If India is seeing that It will be profitable by doing business with America, so first it has to be understood that the more India exports to America, the more it will need to import from China. If you look at the figures, this has also happened.
India’s import from China increased by 4.16%
India’s export (sales) to America is clearly increasing, on the other hand, India’s import (purchase) from China has also increased significantly. According to statistics, India’s exports to America increased by 2.81% to reach $ 78.31 billion in 2022-23. At the same time, India’s import from China increased by 4.16% to reach $98.51 billion. China still remains the biggest import source for India. This is not good from the point of view of India, because our trade deficit is -77.12 billion dollars.
What was India’s total trade last year?
According to the data of the Ministry of Commerce and Industry, the total trade of India in the financial year 2022–23 was 1164.19 billion dollars. In which $ 450.06 billion was exported and $ 714.13 billion was imported. In which the trade deficit stood at $267.07 billion. In which we suffered the biggest loss from China, from where India imports more.
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