The US emerged as India's top trading partner in FY25 with a bilateral trade of $131.84 billion, as per the government data. China was India's second-largest trading partner with $127.7 billion in two-way commerce. However, India's trade deficit with China widened by 17% to $99.2 billion as India's exports to China dipped by 14.5% YoY while imports jumped by 11.52%.