India - US Bilateral Trade
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India-US Trade and Investment

Biaclateral 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 11.6% from $20 billion in the year 2000 to over $114.9 billion in the year 2016.  In this period, the growth in bilateral trade was accelerated by services trade, which grew at a CAGR of 13.8%. Goods trade grew at a CAGR of 10.4%. During the year 2016, goods trade contributed to 59% and trade in services contributed to 41% of the total India-US bilateral trade of $ 114.9 billion.

Goods Trade: Starting from a modest $ 14 Billion in 2000, the bilateral trade in goods has increased to $67.8 billion in 2016 (CAGR of 10.4%), making U.S. our second largest trading partner. Of this, India exported $46.09 billion to US and imported $21.7 billion from US. Trade in goods during the period Jan – May 2017 was $ 29..42 billion as compared to $ 27.36 billion during the period Jan – May 2016; which is an increase of 7.5%.

Trade in Services: Bilateral trade in services has grown at a very fast pace since the year 2000, increasing from a mere $6 Billion in 2000 to $47.2 billion in the year 2016 (CAGR of 13.8%). Of this, India’s exports of services to the U.S. were valued at $26.8 billion and India's imports of services from US were valued at $ 20.3 billion. Trade in Services during the period Jan. Mar 2017 was $ 12.21 billion as compared to $ 11.49 billion, which is an increase of 6.3%.

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            India US Trade in Goods ($ Billions)

 

2011

2012

2013

2014

2015

2016

Jan-May
2016

Jan-May
2017

India's exports to US

36.2

40.5

41.8

45.4

44.8

46.09

19.15

19.67

% change

22.4

12.1

3.2

8.5

-1.2

2.9

 

2.7

India’s imports from US

21.5

22.1

21.8

21.5

21.5

21.65

8.12

9.75

% change

11.9

2.6

-1.3

-1.4

-0.2

0.7

 

18.9

India US Trade in Goods

57.7

62.6

63.6

66.9

66.3

67.74

27.36

29.42

% change

14.5

8.5

1.6

5.2

-0.90

2.2

 

7.5

India - US Trade in Services ($ Billions)

 

2011

2012

2013

2014

2015

2016

Jan-March
2017

India’s exports to US

17.4

18.8

20.4

22.4

24.7

26.8

6.53

% change

18.4

8.0

8.5

9.8

10.3

8.5

1.3

India’s imports from US

11.8

12.3

13.3

15.2

18.1

20.3

5.68

% change

14.6

4.2

8.1

14.3

19.1

12.2

12.8

India - US Trade in Services

29.2

31.1

33.7

37.6

42.8

47.1

 12.21

% change

16.8

6.5

8.4

11.6

13.8

10.0

6.3

India – US Total Bilateral Trade ($Billions)

 

2011

2012

2013

2014

2015

2016

India's exports to US

53.6

59.3

62.2

67.8

69.5

72.9

% change

21.3

10.6

4.9

9.0

2.5

4.9

India’s imports from US

33.3

34.4

35.1

36.7

39.6

42.0

% change

12.9

3.3

2.0

4.6

7.9

6.1

India – US Total Bilateral Trade

86.9

93.7

97.3

104.5

109.1

114.9

% change

17.9

7.8

3.8

7.4

4.4

5.3

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 2017

India's Exports to the U.S. - Top 10 Items
Period: Jan –May 2017

 HS Code

Commodity

US $Million

% Share

% Change
2016/2015

71

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

4332

22.02

-3.03

30

Pharmaceutical Products

2562

13.02

-20.16

27

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

1083

5.51

9.87

63

Textile Art Nesoi; Needlecraft Sets; Worn Text Art

1078

5.48

12.82

62

Apparel Articles And Accessories, Not Knit Etc

1002

 5.09

-3.09

84

Nuclear Reactors, Boilers, Machinery Etc.; Parts

 951

4.83

12.96

29

Organic Chemicals

853

4.33

-1.61

61

Apparel Articles And Accessories, Knit Or Crochet

711

3.61

0.09

03

Fish, Crustaceans & Aquatic Invertebrates

631

3.21

53.68

73

Articles Of Iron Or Steel

539

2.74

43.34

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

India’s Imports from the U.S. - Top 10 Items
Period: Jan- May 2017

 HS Code

Commodity

US $Million

% Share

% Change
2016/2015

71

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

2893

29.67

22.46

27

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

881

9.03

118.78

84

Nuclear Reactors, Boilers, Machinery Etc.; Parts

859

8.81

5.85

90

Optic, Photo Etc, Medic Or Surgical Instrments Etc

574

5.88

4.02

88

Aircraft, Spacecraft, And Parts Thereof

548

5.62

40.76

85

Electric Machinery Etc; Sound Equip; Tv Equip; Pts

528

5.42

3.76

29

Organic Chemicals

380

3.9

20.23

39

Plastics And Articles Thereof

318

3.26

10.32

08

Edible Fruit & Nuts; Citrus Fruit Or Melon Peel

274

2.81

247.25

38

Miscellaneous Chemical Products

265

2.71

36.6

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: Jan – May 2017

S.No.

HS Code

India’s Top 5 export items to US

US $Million

Top
5 Competitors

1

71

Natural Or Cultured Pearls, Precious Or Semiprecious Stones, Precious Metals; Precious Metal Clad Metals, Articles Thereof; Imitation Jewelry; Coin

4332

Israel, Mexico, Canada, Belgium ,China

2

30

Pharmaceutical Products

2562

Ireland, Germany, Switzerland, Israel, Italy

3

27

Mineral Fuels, Mineral Oils And Products Of Their Distillation; Bituminous Substances; Mineral Waxes

1083

Canada, Saudi Arabia, Venezuela, Mexico, Iraq

4

63

Made-Up Textile Articles Nesoi; Needlecraft Sets; Worn Clothing And Worn Textile Articles; Rags

1078

China, Pakistan, Mexico, Bangladesh, Turkey

5

62

Articles Of Apparel And Clothing Accessories, Not Knitted Or Crocheted

1002

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 sixth largest source of foreign direct investment into India. The cumulative FDI inflows from the US during April 2000 to March 2017 amounted to $ 20.32 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 July 14, 2017

Contact Details

For trade related queries

Mr. Harinder Mecheri
Email : com1(dot)washington@mea(dot)gov(dot) in
Telephone : 202-939-9810

For all other and general queries:

Mr. Sunil K.Dhami
Second Secretary (Commerce)
Email: sscom(dot)washington@mea(dot)gov(dot) in
Telephone : 202-939-9834


First Secretary (Commerce) :
Mr. Sanjiv Tandon

 

 

 

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