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China is India's second biggest trading partner after the United States. In 2021-22, India-China bilateral trade stood at $115.83 billion, which was 11.19 per cent of India's total merchandise trade of $1,035 billion. The US was just a notch above, with 11.54 percent ($119.48 billion) share. Till 20 years ago. China figured at the 10th position (2001-02) or lower (12^th in 2000 - 01; 16^th in 1999-00; 18th in 1998-99). However, from 2002- 03; it started an upward march and became India's top trading partner in 2011-12. In the next year, the UAE dislodged it to the second place. However, China bounced back and again became India's top trading partner in 2013-14, and remained there till 2017-18. For the next two years (2018-19 and 2019-20), the US was at the top but in 2020-21, China again became India's number one trading partner. While China and the US have both been India's top trading partners in recent years, there is a big difference between the trade with the world's two largest economies. While with the US, India had a trade surplus of $32.85 billion during 2021-22, with China, it had a trade deficit of $73.31 billion, the highest for any country. In fact, India's trade deficit with China during 2021-2022 was an all-time high.