NEW DELHI: HSBC India on Monday said India’s trade will grow by a whopping 156 per cent to $976.7 billion by 2025.

HSBC Trade Connections report said the country’s trade with the UAE and China is expected to grow by 190 per cent and 165 per cent, respectively, making the UAE India’s largest trading partner by 2025.

“India trade will grow 156 per cent by 2025 with its trade volumes reaching $976.7 billion and will be among the top five international powerhouses which will drive the world trade growth until 2025,” an HSBC statement said.

Further, it said that India’s trade pattern is shifting from the traditional markets – the US and Europe – to the regions like the Middle-East, China, and Latin America.

This shift would “open several new options and opportunities for Indian exporters and importers”, it added.

During the April-September period, India’s exports grew by 52.1 per cent to $160 billion. Imports, too, expanded by 32.4 per cent to $233.5 billion.