India’s Top Trading Partners: Who Trades the Most?

Key Points:

• The top trading partners of India include the United States, China, the United Arab Emirates, Saudi Arabia, Russia and Indonesia.
• The top export partners of India are the United States, the United Arab Emirates Netherlands, China and Singapore.
• The top import partners are China, Russia, United Arab Emirates, United States and Saudi Arabia.

Did you know? India has steadily evolved into a global trade powerhouse over the last few decades, playing a vital role in the international supply chain. Major international economies are still interested in India because of its expanding manufacturing base, services sector, and agricultural exports. However, what motivates these alliances and who are India's major trade partners? Additionally, India depends heavily on other nations for goods like coal, rubber, crude oil, and more.

In this blog, we explore the top 10 trading partners of India, focusing on key export and import partners, the products that dominate trade flows, and the strategic implications for India’s economy.

India is among the top 20 trading nations in the world, with its total trade (merchant exports plus imports) surpassing $1.6 trillion, according to recent trade statistics (FY 2023-24).

In addition to importing gold, electronics, industrial machinery, and crude oil, the nation exports a wide range of goods, such as pharmaceuticals, gems and jewellery, petroleum products, and electronics.

India's Trade Performance in FY 2024-25

India's total exports hit a record $824.9 billion in FY 2024–2025, up 6.01% from the year before. A spike in services exports, which increased by 13.6% to $387.5 billion, was the main driver of this growth. Additionally, merchandise exports (not including petroleum) increased 6.0% to $374.1 billion.

The table for a thorough analysis is as follows:

Trade Performance of India in FY 2023–2024

First, examine the trade performance table for India in 2023–2024.

• The estimated value of India's exports for 2023–2024 is US$776.68 billion, a modest increase over US$776.40 billion the year before.
• India is expected to import US$854.80 billion in 2023–2024, a 4.81% decrease from the previous year.
• From April to September 2024, India's total exports are projected to reach USD 393.22 billion, representing a 4.86 percent increase.
• An estimated USD 448.05 billion will be imported between April and September of 2024, representing a 6.89 per cent increase.

India’s Top 10 Trading Partners

The following list of India's trading partners is based on the volume of all bilateral trade (imports plus exports):

• United States
• China
• United Arab Emirates
• Saudi Arabia
• Russia
• Indonesia
• Iraq
• Singapore
• Hong Kong
• South Korea

Now, explore the table for the Top 10 trading partners of India in 2024!

Now, explore the top 5 of India’s trading partners list!

Major Trading Partners of India: 2025 Analysis

Here is the list of the top trading partners of India

United States (The Biggest trade partner of India):

• The United States is India's major trade partner, with a combined trade volume of over $71.39 billion in 2023. 
• The United States is a major importer of crude oil, machinery, and chemicals for India.
• India's top exports to the United States include jewellery, textiles, gems, and pharmaceuticals.

China:

• In 2023, India's total trade volume with China was over $13.6 billion, making it its second-largest trading partner. 
• India receives a significant amount of its chemicals, machinery, and electronics from China. Cotton, marine products, and iron ore are among India's top exports to China.

United Arab Emirates (UAE):

• With a combined trade volume of more than $28.76 billion in 2023, the UAE ranks as India's third-largest trading partner. 
• India's primary supplier of natural gas and crude oil is the United Arab Emirates. 
• Rice, textiles, and petroleum products are among India's top exports to the United Arab Emirates.

Saudi Arabia:

• With a total trade value of $9.69 billion in 2023, Saudi Arabia is one of top trading partners of India
• Saudi Arabia is the primary supplier of natural gas and crude oil to India, which results in a $28.93 billion trade deficit. 
• Nonetheless, India supplies the kingdom with rice, textiles, and pharmaceuticals.

Russia:

• With $44.37 billion in total trade, Russia is one of India's biggest trading partners. 
• India imports a lot of diamonds, fertilisers, and military hardware from Russia, which causes a $2.8 billion trade imbalance. 
• India does, however, export tea, spices, and medications.

Indonesia:

• With $35.95 billion in trade, Indonesia is India's sixth-ranked trading partner. 
• The two countries have a more balanced relationship, with roughly equal imports and exports. 
• Coal, palm oil, and paper goods are imported by India, while pharmaceuticals, grains, and electrical equipment are mostly exported.

Iraq:

• With a $33.86 billion total trade volume, it is the seventh-top trading partner of India.
• However, it primarily purchases crude oil from Iraq, which causes a trade deficit of $29.18 billion.
•  India exports a variety of goods, including grains, spices, and pharmaceuticals, according to its export statistics.

Singapore:

• In 2023, India's eighth-largest trading partner is Singapore, with a combined trade volume of more than $11 billion. 
• Singapore is one of India's main trading and financial hubs. 
• India's top exports to Singapore are jewellery, chemicals, petroleum products, and gems.

Hong Kong:

• Hong Kong, India's tenth partner with $25.68 billion, is a re-export hub, which accounts for the $6.95 billion imbalance. 
• India exports machinery, pharmaceuticals, and precious stones while buying toys, gold, and electronics.

South Korea:

• Lastly, with $25.35 billion, South Korea comes in at number 10, suggesting a somewhat export-heavy economy. 
• India imports machinery, semiconductors, and electronic components from other countries while exporting steel, automobiles, and medications.

The United States Became Biggest Trade Partner of India

A recent report by the think tank Global Trade Research Initiative (GTRI) claims that the United States became India's major trade partners while the country's trade deficit with China hit a record high of $41.6 billion between January and June of this year.

126 of the 239 countries to which India exports goods show positive growth in exports, according to export data from India. From $30.8 billion to $34.4 billion, Russia's imports increased by 11.65%.

China continued to be the largest import supplier in the first half of 2024, as imports rose from $46.2 billion to $50.1 billion.  said GTRI founder Ajay Srivastava.

Top Export Partners of India

The following is a list of export partners of India:

Thus, these are India's top export partners. Additionally, India exports to more than 235 nations, 126 of which have seen an increase in exports.

Top Import Partners for India

The list of India's main import partners is as follows:

China is therefore India's largest importer, according to import data. India imported 101.75 billion dollars' worth of goods from China in 2023–2024.

India's Top Export Destinations

The robust demand for software services, pharmaceuticals, engineering goods, and agriculture is a major factor driving India's major trade partners. Top export destinations include

In 2023–2024, these ten nations accounted for 51% of India's total merchandise export value. To know more about top trading partners of India or need updated India import export data, connect with ExportImportData.in and explore the trade insights instantly.

India’s Major Import Sources

India depends on several nations to supply the electronics, heavy machinery, and energy it needs. Key import sources include

These are the top import sources of India. To know, explore the list of top 10 import partners of India, or if you need India port details, explore this informative blog, “Top 10 Imports in India: A Guide for Importers in India.”

Final Thoughts

India’s trade partnerships are more than just numbers—they are strategic, dynamic, and constantly evolving. As global economies shift and supply chains diversify, India continues to strengthen its position as a reliable trading partner.

Whether you're an exporter, importer, or investor, understanding the top trading partners of India offers deep insights into market opportunities and strategic directions.

Please get in touch with us if you would like more information about India's major trading partners. With our experts' assistance, you can grow your company in the global trade sector. To arrange a free live demo and expand your trading business in the global market, get in contact with our experts.

Top Trading Partners of India

India's major trade partners: United Arab Emirates

India's major trade partners: Saudi Arabia

India's major trade partners: Russia

India's major trade partners: USA