India achieved a trade surplus with 151 countries, including the US and Netherlands, during January-June 2024, while facing a trade deficit with 75 nations, notably China and Russia.
The Global Trade Research Initiative (GTRI) highlighted that India’s trade surplus amounted to USD 72.1 billion, driven largely by exports to the USA (USD 21 billion) and the Netherlands (USD 11.6 billion). However, India's overall trade deficit reached USD 185.4 billion, mainly due to industrial goods imports, with China alone accounting for a USD 41.88 billion deficit. GTRI urged India to focus on reducing dependency on industrial imports from China to protect economic sovereignty.