India China trade: China becomes India’s largest trading partner in FY26

Context: India China trade

China has overtaken the United States as India’s largest trading partner in FY26 due to a surge in imports, leading to a record trade deficit.

India China trade

• Total trade $151.1 billion
• Trade deficit $112.6 billion all-time high
• Exports $19.47 billion rise 36.66%
• Imports $131.63 billion rise 16%

India US trade

• Exports $87.3 billion marginal rise
• Imports $52.9 billion rise 15.95%
• Trade surplus $34.4 billion decline from $40.9 billion

India top trading partners

China | USA | UAE

India top export destinations

USA | UAE | Netherlands

India top import sources

China | Russia | UAE

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India China trade: China becomes India’s largest trading partner in FY26

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