India - US Bilateral Trade
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Embassy of India
Washington D.C.
(Commerce Wing)

India-US Trade and Investment

Bilateral Trade

Rapidly expanding trade and commercial linkages between India and U.S. form an important component of the multi-faceted partnership between the two countries. Total bilateral trade (goods and services) between India and US increased at a CAGR of 12% from $20 Billion in the year 2000 to over $109 Billion in the year 2015.  In this period, the growth in bilateral trade was accelerated by services trade, which grew at a CAGR of 14%. Goods trade grew at a CAGR of 11% in the same period. Based on the most recent figures, both goods and services contributed almost equally to the total bilateral trade with goods accounting for 49% and services accounting for 51% .

Goods Trade: Starting from a modest $ 14 Billion in 2000, the bilateral trade in goods has increased to $66.3 Billion in 2015 (CAGR of 11%), making U.S. our second largest trading partner. Of this, India exported $44.8 Billion to US and imported $21.5 Billion from US. Trade in goods during Jan. - Nov. 2016 was $62.15 Billion as compared to $60.69 Billion during Jan.-Nov. 2015; which is a 2.4% drop.

Trade in Services: Bilateral trade in services grew at a very fast pace since the year 2000, increasing from a mere $6 Billion in 2000 to $42.8 Billion in the year 2015 (CAGR of 14%). Of $42.8 Billion in 2015, India’s exports of services to the U.S. were valued at $24.7 Billion and India's imports of services from US were valued at $18.1 Billion.

 

graph1.jpg

            India US Trade in Goods ($ Billions)

 

2010

2011

2012

2013

2014

2015

Jan-Nov 2015

Jan-Nov 2016

India's exports to US

29.5

36.2

40.5

41.8

45.4

44.8

41.78

42.55

% change

-

22.4

12.1

3.2

8.5

-1.2

-

1.9

India’s imports from US

19.2

21.5

22.1

21.8

21.5

21.5

19.91

19.59

% change

-

11.9

2.6

-1.3

-1.4

-0.2

-

-1.6

India US Trade in Goods

48.7

57.7

62.6

63.6

66.9

66.3

60.69

62.15

% change

-

14.5

8.5

1.6

5.2

-0.90

-

2.4

India - US Trade in Services ($ Billions)

 

2010

2011

2012

2013

2014

2015

Jan-Sept 2015

Jan-Sept 2016

India's exports to US

14.7

17.4

18.8

20.4

22.4

24.7

18.33

19.74

% change

-

18.4

8.0

8.5

9.8

10.3

-

7.7

India’s imports from US

10.3

11.8

12.3

13.3

15.2

18.1

14.29

16.01

% change

-

14.6

4.2

8.1

14.3

19.1

-

12.1

India - US Trade in Services

25

29.2

31.1

33.7

37.6

42.8

32.62

35.75

% change

-

16.8

6.5

8.4

11.6

13.8

-

9.6

India – US Total Bilateral Trade ($Billions)

 

2010

2011

2012

2013

2014

2015

Jan-Sept 2015

Jan-Sept 2016

India's exports to US

44.2

53.6

59.3

62.2

67.8

69.5

52.96

54.21

% change

-

21.3

10.6

4.9

9.0

2.5

-

2.4

India’s imports from US

29.5

33.3

34.4

35.1

36.7

39.6

30.79

31.43

% change

-

12.9

3.3

2.0

4.6

7.9

-

2.1

India – US Total Bilateral Trade

73.7

86.9

93.7

97.3

104.5

109.1

83.75

85.64

% change

-

17.9

7.8

3.8

7.4

4.4

-

2.3

Source: US Department of Commerce, US Census Bureau and US Bureau of Economic Analysis

 

5 Year Trend Analysis of the Top Ten Export items of India to US

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Source of Data: U.S. Department of Commerce, Bureau of Census

5 Year Trend Analysis of the Top Ten import items of India from US

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Source of Data: U.S. Department of Commerce, Bureau of Census

 

Bilateral Trade Trends during 2016

India's Exports to the U.S. - Top 10 Items
Period: January - November 2016

 HS Code

Commodity

US $Million

% Share

% Change 2016/2015

71

Nat Etc Pearls, Prec Etc Stones, Pr Met Etc; Coin

10085

23.7

14.55

30

Pharmaceutical Products

6886

16.18

26.37

63

Textile Art Nesoi; Needlecraft Sets; Worn Text Art

2153

5.06

-1.45

27

Mineral Fuel, Oil Etc.; Bitumin Subst; Mineral Wax

2146

5.04

-16.51

62

Apparel Articles And Accessories, Not Knit Etc.

1936

4.55

-0.63

84

Nuclear Reactors, Boilers, Machinery Etc.; Parts

1930

4.54

-12.98

29

Organic Chemicals

1836

4.32

-2.11

61

Apparel Articles And Accessories, Knit Or Crochet

1491

3.5

-0.55

03

Fish, Crustaceans & Aquatic Invertebrates

1309

3.08

16.13

85

Electric Machinery Etc; Sound Equip; Tv Equip; Pts

1194

2.81

2.14

Source of Data: U.S. Department of Commerce, Bureau of Census

India’s Imports from the U.S. - Top 10 Items
Period: January –November 2016


 HS Code

Commodity

US $Million

% Share

% Change 2016/2015

71

Nat Etc Pearls, Prec Etc Stones, Pr Met Etc; Coin

6198

31.63

-0.43

84

Nuclear Reactors, Boilers, Machinery Etc.; Parts

1773

9.05

-10.34

90

Optic, Photo Etc, Medic Or Surgical Instrments Etc

1187

6.06

1.75

85

Electric Machinery Etc; Sound Equip; Tv Equip; Pts

1087

5.55

-12.31

27

Mineral Fuel, Oil Etc.; Bitumin Subst; Mineral Wax

1069

5.46

3.22

88

Aircraft, Spacecraft, And Parts Thereof

995

5.08

-17.07

29

Organic Chemicals

702

3.58

-0.54

39

Plastics And Articles Thereof

667

3.41

9.38

08

Edible Fruit & Nuts; Citrus Fruit Or Melon Peel

567

2.89

-15.6

38

Miscellaneous Chemical Products

531

2.71

-14.25

Source of Data: U.S. Department of Commerce, Bureau of Census

Top 5 Competitors of India’s top 5 Exports to the U.S.
Period: January- November 2016

S.No.

HS Code

India’s Top 5 export items to US

US $ Million

Top 5 Competitors

1

71

Nat Etc Pearls, Prec Etc Stones, Pr Met Etc; Coin

10085

Israel , Canada, Mexico, Switzerland ,Belgium

2

30

Pharmaceutical Products

6886

Ireland, Switzerland, Germany, United Kingdom, Israel

3

63

Textile Art Nesoi; Needlecraft Sets; Worn Text Art

2153

China, Pakistan, Mexico, Turkey, Bangladesh

4

27

Mineral Fuel, Oil Etc.; Bitumin Subst; Mineral Wax

2146

Canada, Saudi Arabia, Venezuela, Mexico, Colombia

5

62

Apparel Articles And Accessories, Not Knit Etc.

1936

China, Vietnam, Bangladesh, Indonesia, Mexico

Source of Data: U.S. Department of Commerce, Bureau of Census

Bilateral Investments

Indian data:

As per FDI statistics released by DIPP, the U.S. is the fifth largest source of foreign direct investment into India. The cumulative FDI inflows from the US during April 2000 to September 2016 amounted to $ 19.38 Billion constituting 6% of the total FDI inflows into India. During the latest fiscal April 2015 – March 2016, FDI from US stood at $ 4.19 Billion. According to CII survey report released in August 2015, 100 Indian companies have made $15 Billion worth of tangible investments across 35 states, creating more than 91,000 American jobs. Among large Indian corporations having investments in the US are Reliance Industries Limited, Tata Consultancy Services, Wipro, Essar America, Piramal, Mahindra, Lupin, SunPharma, etc.

US data:

U.S. FDI in India during 2005 to 2015 amounted to $ 28 Billion whereas Indian FDI into the US between 2005 and 2015 amounted to 9.3 Billion.

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As on January 12, 2017

Contact Details
For trade related queries

Mr. Harinder Mecheri
Email : hmecheri[at]indiagov[dot]org
Telephone : 202-939-9810

For all other and general queries:

Mr. Sunil K.Dhami
Second Secretary (Commerce) :
Email: sscom[at]indiagov[dot]org
Telephone : 202-939-9834

Minister (Commerce) : Ms. Reenat Sandhu

First Secretary (Commerce) : Mr. Sanjiv Tandon

Chancery Address: 2107 Massachusetts Avenue, NW Washington, DC 20008
Consular Wing Address: 2536 Massachusetts Avenue, NW Washington, DC 20008

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