Journal of Advances in Developmental Research

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India's Economic and Trade Relations with Major Powers: A Comparative Study of the USA, Russia, China, Germany, and Japan

Author(s) Ediga Lakshmanna, Dr. D. Chandramouli Reddy
Country India
Abstract The rise of India as the world's fifth-largest economy has dramatically reshaped its trade framework with major global powers. This paper presents a comparative analysis of India's economic and trade relations with five strategic partners — the USA, Russia, China, Germany, and Japan — examining bilateral trade values, sectoral engagements, investment flows, and geopolitical contexts through August 2025. The study situates these connections within the ongoing Russia–Ukraine conflict (since February 2022) and the consequent restructuring of global energy markets. In FY2024–25, the United States remained India's largest trading partner, with bilateral trade in goods and services totalling approximately USD 212.3 billion. China re-emerged as a major trade force, with bilateral trade approaching USD 134.7 billion and a structural deficit of over USD 101 billion. India–Russia trade, dominated by discounted crude oil, reached approximately USD 65 billion, with around 96 per cent conducted in national currencies. Germany maintained its position as India's principal European partner, with bilateral trade exceeding USD 33 billion, while Japan deepened its strategic economic partnership through the Joint Vision for the Next Decade, unveiled in August 2025. The paper finds that India's doctrine of strategic autonomy — operationalised through simultaneous engagement with diverse power centres — shapes a complex but resilient external economic posture.
Keywords India trade policy, strategic autonomy, bilateral trade relations, India–China trade, India–Russia energy, India–USA tariffs, India–Germany partnership, India–Japan CEPA, Russia–Ukraine war, economic diplomacy
Field Engineering
Published In Volume 16, Issue 2, July-December 2025
Published On 2025-08-09
DOI https://doi.org/10.71097/IJAIDR.v16.i2.1977
Short DOI https://doi.org/hb55rb
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