|
India – US Trade
Trade and commerce form a crucial component in the rapidly expanding and
multi-faceted relations between India and US. From a modest $ 5.6 billions in
1990, the bilateral trade in merchandise goods has increased to $ 41.62 billion
in 2007 representing an impressive 743% growth in a span of 17 years. India’s
merchandise exports to the U.S.A. grew at 10.05 % from US $ 21.83 billion in
2006 to US $ 24.02 billion in 2007. US exports of merchandise to India increased
from US $ 10.06 billion in 2006 to US $ 17.59 billion in 2007, an increase of
74.94%.
During the period January - October 2008, merchandise exports from India to US increased by
10% to $ 22 billion and merchandise exports from US to India increased by 16 % to US $
16.4 billion.
A tabular profile of the bilateral trade during recent years is given below.
Bilateral Merchandise Trade (2004 to 2008*)
(In US $ Millions)
|
|
Years |
|
Item
|
2004
|
2005
|
2006
|
2007
|
Jan- Oct 2008
|
|
India's export to US
|
15572
|
18808
|
21826
|
24024
|
21966
|
|
US exports to India
|
6109
|
7958
|
10091
|
17592
|
16399
|
|
Total Bilateral Trade
|
21681
|
26766
|
31917
|
41616
|
38365
|
* Source: U.S.
Department of Commerce
A profile of growth trends of some major items of bilateral trade in merchandise during the past two years, is given below:
India’s exports to US
The major items of export from India are:
Cut and polished diamonds and Jewelry is a major item of India’s exports to the US, accounting for
25.81%. Exports of this item grew from US $ 5.87 billion in 2006 to US $ 6.20 billion in
2007.
Textiles exports to the US grew from US $ 5.38 billion in 2006 to US $ 5.45 billion in
2007.
Engineering goods and machinery including electrical machinery grew
sharply from US $ 2.20 billion in 2006 to US $ 2.36 billion in 2007.
Mineral and fuel oils export grew from US $ 400 million in 2006 to US $ 967 million in
2007.
Export of organic chemicals to the US grew from US $ 880 million in 2006 to US $
1209 million in 2007.
Export of vehicles and parts (excluding railway) to the US grew from US$ 487 million in
2006 to US $ 623 million in 2007.
US exports to India
The major items of export from US to India are:
Engineering goods and machinery including electrical machinery contribute to over
20% of the total US exports to India. US exports of these items grew from US$
2.76 billion in 2006 and to US $ 3.51 billion in 2007.
Export of precious stones and metals from US to India grew from US $ 924 million in
2006 to US $ 1891 million in 2007.
Optical and medical instruments grew from US $ 688 million in 2006 to
US $ 867 million in 2007.
Export of aircraft, aviation machinery and parts grew from US $ 1623
million in 2006 to US $ 6058 million in 2007.
Export of fertilizers grew from US $ 587 million in 2006 to US $ 778 million in
2007.
Trade during the year 2008
i) Major items of export from India to US
During the period January - October 2008, merchandise exports
from India to US increased by 10 % to $ 22 billion as compared to India’s
exports during the corresponding period in 2007 ($ 20 billion)
Select major items with their percentage shares are given below.
a) Diamonds & precious stones (22.8%)
b) Textiles (21.2%)
c) Pharmaceutical products (5.9%)
d) Electrical Machinery (5.1%)
e) Organic Chemicals (5.4%)
f) Machinery (5.5%)
(ii) Major items of export from US to India:
During the period January - October 2008, merchandise exports from US
to India increased by 16 % to US $ 16.4 billion as compared to US exports
during the corresponding period in 2007 ($ 14.1 billion)
Select major items with their percentage shares are given below
a) Aviation & aircraft (15.2%)
b) Engineering goods & machinery (including electrical) (19.4%)
c) Precious stones & metals (13%)
d) Organic chemicals (3.3%)
e) Optical instruments & equipment (4.5%)
Contact Details
General Fax: 202-797-4693
For trade related queries
Mr. Harinder Mecheri
Telephone: 202-939-9810
E-mail
For all other and general queries:
Attaché (Commerce) : Mr. Y.P.Sood
Tel: 202-939-9834
Minister (Commerce): Mrs. Banashri B.Harrison
Telephone : 202-939-9807
Email
Counsellor (Commerce): Mr. Sibi George
Telephone : 202-939-9828
E-mail
|