China is the second largest trading partner-economy by 2030
The indian economy is currently the fifth largest economy in the world in terms of data-size. The economies ofAmerica, china, japan and germany are still ahead of us in data-size. Looking at the speed at which the Indianeconomy will grow in the next few years, it is believed that by 2030 we will leave japan behind and become thethird largest economy in the world. By that time the data-size of the indian economy will be equal to the GDP of 7300billion dollars. Such an estimate has been expressed in the latest index of S&P Global india Manufacturing(PMI). If this happens, india will be the second largest economy in Asia by 2030. In Asia, only china will beahead of us.The data-size of the American economy during that time was 25500 billion dollars. The data-size of China's economy wasat second place with 18000 billion dollars. Whereas the data-size of the economy of japan, which was ranked third,was 4200 billion dollars. germany is currently at number four. The data-size of the indian economy in 2022 GDP atcurrent prices was US$3500 billion. It is likely to reach $7300 billion by 2030.Trade is an important component of the indian economy. One aspect of concern for us on this front is regardingChina. Even in the past, our relations with china have not been that good. Despite this, china has been a veryimportant trading partner of india for the last several years. Bitterness in bilateral relations increasedsignificantly after the violent clash between the armies of the two countries in Galwan Valley in june 2020. Therelationship reached its worst point in the last three years. Despite this, India's trade relations with Chinaremained equally strong. The result of this is that china is currently India's second largest trading partner. Onthis front, America is at the first position since last two years. However, for the first few years, china was ourbiggest trading partner.