By Admin 
India and America are two major economies of the world and are also important business partners of each other. There is a trade of billions of dollars every year between the two countries. If for some reason the trade between India and America stops completely, then it is a big question that who will suffer the most. If trade between India and America is completely closed, then both countries will be clearly affected, but in this situation India will suffer more loss. Let’s know in detail about this.
Who will suffer more loss
India’s economy is much smaller than the US and its dependence on global trade is more. America is the largest export market in India, a large part of areas like pharmaceuticals, IT services, textiles, gems-jewelery. If the business suddenly stops, then these industries will be hit directly, due to this, not only the income of these companies will fall, but the jobs of millions of people will also be in danger. Foreign exchange reserves, new investment and startup sectors will also have a serious negative effect.
What do data say
First of all, look at the figures. In the year 2023-24, the total bilateral trade between India and the US has been around $ 118 billion. In this, India exported about $ 77 billion to the US, while imported from the US about $ 41 billion. That is, India has a trade surplus of about $ 36 billion with America. If the trade stops then India will suffer loss, because the American market is the biggest customer for Indian IT companies, pharma and textile industry. Millions of jobs will be directly affected. About 60 percent of the IT sector earnings come from the US itself.
America will cost generic medicines expensive
In contrast to this, if we talk about America, then the options of Indian market and supply may be fast available for there, especially electronics, clothes and some medicines. Yes, but America can also find generic medicines and some other items expensive and many companies will have to find a new supplier. But the big and diverse economy of America and many of its business partners can get rid of this loss quickly.
What will be the condition of America
Overall, the loss of the US market for India will have a more serious impact on its economy and industries, while the impact on America will be relatively limited. For this reason, experts believe that in the event of such a business captive, India will get more shock in both economic and social terms.
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