The United States has surpassed China to become India’s top trading partner in 2021-’22, PTI reported on Sunday, citing data from the commerce ministry.

Trade between the US and India increased by 48.3% to $119.42 billion, or over Rs 9.25 lakh crore, last year from $80.51 billion, or more than Rs 6.24 lakh crore, in 2020-’21, the Hindustan Times reported.

Exports to the US increased to $76.11 billion, or over Rs 5.9 lakh crore, in 2021-’22 from $51.62 billion, or nearly Rs 4 lakh crore, in the previous financial year. Imports rose to $43.31 billion, or more than Rs 3.35 lakh crore, from $29 billion, or over Rs 2.24 lakh crore.

On the other hand, the aggregate bilateral trade between India and China was $115.42 billion, or over Rs 8.94 lakh crore, last year as compared to $86.4 billion, or nearly 6.69 lakh crore, in 2020-’21, the data showed, according to Business Standard.

In this, exports from India to China marginally increased to $21.25 billion, or over Rs 1.647 lakh crore, last year from $21.18 billion, or nearly Rs 1.649 lakh crore, in 2020-’21. Imports rose to $94.16 billion, or more than Rs 7.09 lakh crore, in 2021-’22 from about $65.21 billion, or over Rs 5.05 lakh crore, in 2020-’21.

China had been India’s top trading partner between 2013-’14 and 2017-’18 and also in 2020-’21. Before China, the United Arab Emirates was India’s largest trading partner, according to PTI.

Trade experts said bilateral trade between the US and India would continue to increase in the coming years.

Federation of Indian Export Organisations Vice President Khalid Khan said India is emerging as a trusted trading partner and global firms are reducing their dependence on China for their supplies.

“In the coming years, the bilateral trade between India and the US will continue to grow,” Khan said, according to PTI. “India has joined a US-led initiative to set up an Indo-Pacific Economic Framework, and this move would help boost economic ties further.”