2026.04.09 China Surpasses US as India's Top Trading Partner

China Surpasses US as India's Top Trading Partner

Latest data indicates that China-India bilateral trade is projected to reach $137 billion for the 2025-2026 period, surpassing the $127.8 billion trade volume between India and the US. This officially makes China India's largest trading partner, a position the US held for four consecutive years until the 2024-2025 fiscal year. Chinese Ambassador to India, Xu Feihong, confirmed that China has led India's trade charts for 11 consecutive months from April 2025 to February 2026. This significant shift underscores the deepening economic and trade integration between Asia's two largest economies, highlighting a major realignment in global trade dynamics.

Southeast Asia Shipping Lanes Face Severe Congestion and Price Hikes

April 2026 has seen Southeast Asia become the hottest spot in global shipping, with severe port congestion and soaring rates. Driven by manufacturing relocation and pre-holiday shipment surges, ports like Bangkok, Thailand, and Ho Chi Minh City, Vietnam, are experiencing severe space shortages. Freight rates from Shenzhen to Bangkok for full container loads have surged 40% compared to March, with a 35% increase to Ho Chi Minh City. Container pickup times have extended to 5-7 days. In response, carriers like Yang Ming Marine have launched new services, deploying three 2,800 TEU vessels on the Xiamen-Singapore-Port Klang route, while COSCO and MSC have added extra loaders. LCL cargo from South China to Southeast Asia is now booked into late April, with forwarders reporting a 60% year-on-year increase in Southeast Asia business volume.