US remains key forex source for India, accounts for 15-17% of goods exports

China remains the main source of India's imports, with the US at a distant fifth place

As Joe Biden takes oath as the 46th president of the United States (US), a look at the data shows the country continues to remain a major destination of foreign exchange earnings for India.

Exports to the US account for 15-17% of India’s merchandise outbound shipments. Though China is at a distant second, it has improved its position from fourth and third-biggest export destination. 

China also continues to remain the main source of our imports, with the US at the fifth place.

Thorny issues:

i) Withdrawal  of trade concessions worth $5.6 bn by US from India under Generalised System of