In the fiscal year 2023-24, China has overtaken the US as India's largest trading partner, with a total two-way commerce of $118.4 billion, as per the data from the economic think tank GTRI. India's exports to China rose by 8.7 percent to $16.67 billion, while imports increased by 3.24 percent to $101.7 billion. Conversely, exports to the US dipped slightly to $77.5 billion, and imports decreased by about 20 percent to $40.8 billion.
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