CURRENT AFFAIRS

2022

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
US overtook which country as India’s largest trading partner in the financial year 2022?
A
Israel
B
China
C
Iran
D
Russia
Explanation: 

Detailed explanation-1: -Delhi countered it, saying the US was India’s largest trading partner that year. The US, however, remained India’s largest trading partner in the four months ended 31 July, with shipments worth $46.2 billion, more than China’s $40.4 billion.

Detailed explanation-2: -The US ($57,632.37 million), China ($50,792.83 million), UAE ($36,820.33 million), Saudi Arabia ($23,995 million), Iraq ($18,822.27 million) and Indonesia ($18,816.58 million) were the six countries which recorded higher volumes of trade with India during the first five months of 2022-23.

Detailed explanation-3: -The data showed that China was India’s top trading partner from 2013-14 till 2017-18 and also in 2020-21. Before China, the UAE was the country’s largest trading partner. In 2021-22, the UAE with $72.9 billion, was the third largest trading partner of India.

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