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India – US Trade
Trade and commerce form a crucial component of the rapidly expanding and multi-faceted relations between India and US. From modest $ 5.6 billion in 1990, the bilateral trade in merchandise goods has increased to $ 48.75 billion in 2010 representing an impressive 771% growth in a span of 20 years.
India’s merchandise exports to the U.S. grew by 23.1% from $ 25.04 billion during the period January – October 2010, to $ 30.83 billion in January – October 2011. US exports of merchandise to India also grew by 10.02% from $ 16.09 billion during January - October 2010 to $ 17.70 billion in January – October 2011. India – US Bilateral Merchandise Trade stands at $ 48.53 billion during this period.
Trade during the period January – October 2011
i) Major items of export from India to US
Select major items with their percentage shares, are given below.
a) Textiles (17.5%)
b) Precious stones & metals (22.7%)
c) Mineral fuel, oils (10.1%)
d) Pharmaceutical products (8.7%)
e) Organic chemicals (5.2%)
f) Machinery (4.8%)
g) Electrical machinery (4%)
h) Iron & Steel Products (3.4 %)
ii) Major items of export from US to India
Select major items with their percentage shares, are given below
a) Precious stones & metals (23%)
b) Machinery (13.2%)
c) Mineral fuel, Oil, etc. (8.8%)
d) Electrical machinery (7.1%)
e) Optical instruments & equipment (5.6%)
f) Organic chemicals (4.3%)
g) Fertilizers (4.9%)
h) Plastic (3.7%)
Trends with respect to the major items of bilateral trade during the past two years are as follows.
India’s exports to US
· Cut and polished diamonds and jewelry is a major item of India’s exports to the US, accounting for 23.2%. Exports of this item increased from $ 4.56 billion in 2009 to $ 6.85 billion in 2010, an increase of 50.3%.
· Textiles exports accounted for 19.3% of India’s exports to the US in 2010. Textile exports grew from $ 4.86 billion in 2009 to reach $ 5.69 billion in 2010, an increase of 17.1%.
· Exports of pharmaceutical products grew from $ 1.66 billion in 2009 to $ 2.39 billion in 2010, an increase of 43.8%.
· Exports of mineral fuel, oil grew from $0.43 billion in 2009 to $ 2.32 billion in 2010, an increase of 437%.
· Exports of organic chemicals grew by 5.6% from $ 1.31 billion in 2009 to $ 1.72 billion in 2010.
US exports to India
· Exports of precious stones and metals which accounted for 21.9% of exports from US to India grew by 80% to reach $ 4.21 billion in 2010 from $ 2.34 billion in 2009.
· Machinery exports grew by 14.9% from $ 2.32 billion in 2009 to $ 2.67 billion in 2010.
· Exports of electrical machinery grew by 5.23% from $ 1.3 billion in 2009 to $1.37 billion in 2010.
· Exports of aircraft, aviation machinery and parts, fell by 43.3% to $ 1.28 billion in 2010 from $2.25 billion in 2009.
During the year 2007, the basket of US imports to India included exceptionally large imports of aircraft /parts, which resulted in a leap in the growth rate of US exports to 54.7%. With this component excluded, the growth rates of US exports in 2007 and 2008 are 37.5% and 39.9% respectively.
Contact Details
General Fax : 202-797-4693
For trade related queries
Mr. Harinder Mecheri
E-mail : hmecheri@indiagov.org Telephone : 202-939-9810
For all other and general queries:
Attachè (Commerce) : Mr. Manjish Grover
E-mail : mgrover@indiagov.org
Telephone 202-939-9834
Minister (Commerce) : Mr.Vinay Kwatra
E-mail : mincom@indiagov.org
Counsellor (Commerce) : Dr.B.Bala Bhaskar
E-mail : ccom@indiagov.org
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