India-China Trade: A Boom Amid Growing Deficits

India's exports to China surged by 27% in April 2026, while imports grew by 20.85%, according to government data. The trade deficit with China widened to $10.2 billion, making China India's largest trading partner. Meanwhile, exports to the US marginally increased, but imports from the US decreased.

India's trade with China experienced a significant boost in April 2026, as exports soared by 27% and imports increased by 20.85%, government data reveals. Exports to China rose from USD 1.39 billion in April 2025 to USD 1.77 billion this year, while imports climbed from USD 9.9 billion to USD 11.97 billion.

This surge has expanded the trade deficit to USD 10.2 billion compared to USD 8.51 billion in April 2025. As a result, China has displaced the US as India's largest trading partner, with bilateral trade reaching USD 151.1 billion during 2025-26.

In contrast, India's trade with the US experienced a modest shift: exports increased by 1.14% to USD 8.47 billion, while imports fell 4.67% to USD 5.27 billion. Notably, India also saw substantial export growth to Singapore, Tanzania, and Sri Lanka.