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The Prime Minister, Shri Narendra Modi meeting the President of the People's Republic of China, Mr. Xi Jinping, in Wuhan, China on April 27, 2018 China and India have historically maintained peaceful relations for thousands of years of recorded history, but the harmony of their relationship has varied in modern times, after the Chinese Communist Party's victory in the Chinese Civil War in 1949 ...
As of 2023, India is the seventh largest exporter of commercial services in the world, [12] accounting for 4.6% of global trade in services. India's service exports grew by 27%. [13] In September, India's prominent services industry experienced an acceleration in growth, buoyed by robust demand in the sector.
Counting the European Union (EU) as one, the World Trade Organisation ranks India fifth for commercial services exports and sixth for commercial services imports. [4] The two primary destinations of India's exports are the EU and the United States, whereas the China and the EU are the two primary countries from which India's imports come from. [1]
China has long been the engine of global growth, but its real estate crisis and slowing economy has alarmed international investors. India is fast emerging as a potential successor.
China has become the world's second largest economy by GDP (Nominal) and largest by GDP (PPP). 'China developed a network of economic relations with both industrial economies and those constituting the semi-periphery and periphery of the world system.' [1] Due to the rapid growth of China's economy, the nation has developed many trading partners throughout the world.
The largest import and export merchandise trade partners for most countries of the world are listed below. Details for the European Union, Hong Kong and Macau are also included. In most cases the data relates to 2021 rankings. Data was extracted from the World Trade Organization's Trade Profile Database. [1] [2]
[343] [344] Foreign trade accounted for 48.8% of India's GDP in 2015. [345] Globally, India accounts for 1.44% of exports and 2.12% of imports for merchandise trade and 3.34% of exports and 3.31% of imports for commercial services trade. [344] India's major trading partners are the European Union, China, United States and United Arab Emirates ...
Country Imports (millions of $) . Year United States 3,375,948 2022 European Union [n 1] 2,743,745 [3]: 2022 China 2,706,601 2022 Germany 1,571,057 2022 Japan 898,099 ...