China became India's largest trading partner in the financial year 2025–26, moving ahead of the United States. Bilateral trade between India and China stood at USD 151.1 billion during the year. However, the relationship is heavily one-sided: India recorded a record trade deficit of USD 112.6 billion with China, meaning imports far exceeded exports. The widening gap keeps the focus on reducing import dependence in sectors such as electronics and industrial inputs.
- Total trade: USD 151.1 billion
- Trade deficit: USD 112.6 billion (record)
- Previous top partner: United States