The US recently beat out China to become the top trading partner of India according to new data from India’s Ministry of Commerce and Industry.

The US did US$119.4 billion in trade with India in the 2021-2022 financial year ending in March, an increase over the previous year of 48.3%. China did US$115.4 billion, and increase of 33.6% from a year prior.

Imports from China to India, primarily machines and electronics, rose 44.4% to US$94.2 billion, however Imports from India to China grew only .3% to US$21.3 billion.

Meanwhile Indian exports to the US rose 47.4% from the previous year to US$76.11 billion, while imports went up 50% to US$43.31 billion.

India’s $32.8 billion trade surplus with the US helped offset its $72.9 billion deficit with China.