India - US Bilateral Trade
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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 11.4% from $20 billion in the year 2000 to over $126.1 billion in the year 2017. In this period, the growth in bilateral trade was accelerated by services trade, which grew at a CAGR of 13.5%. Goods trade grew at a CAGR of 10.2%. During the year 2017, goods trade contributed to 59% and trade in services contributed to 41% of the total India-US bilateral trade of $ 126.1 billion.

Goods Trade: Starting from a modest $ 14 billion in 2000, the bilateral trade in goods has increased to $77.3 billion in 2017 (CAGR of 10.3%), making U.S. our second largest trading partner. Of this, India exported $48.6 billion to US and imported $25.7 billion from US. Trade in goods during the year 2017 was $74.3 billion as compared to $67.7 billion during the year 2016, which is an increase of 9.8%. During the period Jan –May 2018, trade in goods grew by 19.3% to $ 35.11 billion from $ 29.43 billion during the corresponding period in 2017.

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 $51.8 billion in the year 2017 (CAGR of 13.5%). Of this, India’s exports of services to the U.S. were valued at $28.7 billion and India's imports of services from US were valued at $23.1 billion. Trade in Services during the year 2017 was $ 51.8 billion as compared to $ 46.4 billion during 2017, which is an increase of 11.5%. During the period January – March 2018, trade in services grew by 6.1% to $13.34 billion from $12.58 billion.

India US Trade in Goods ($ Billions)

 

2011

2012

2013

2014

2015

2016

2017

India's exports to US

36.2

40.5

41.8

45.4

44.8

46.0

48.6

% change

22.4

12.1

3.2

8.5

-1.2

2.8

5.7

India’s imports from US

21.5

22.1

21.8

21.5

21.5

21.7

25.7

% change

11.9

2.6

-1.3

-1.4

-0.2

0.9

18.7

India US Trade in Goods

57.7

62.6

63.6

66.9

66.3

67.7

74.3

% change

14.5

8.5

1.6

5.2

-0.9

2.1

9.8

 

India - US Trade in Services ($ Billions)

 

2011

2012

2013

2014

2015

2016

2017

India's exports to US

17.4

18.8

20.4

22.4

24.6

25.8

28.7

% change

18.4

8.0

8.5

9.8

9.8

4.9

11.2

India’s imports from US

11.8

12.3

13.3

15.2

18.4

20.6

23.1

% change

14.6

4.2

8.1

14.3

21.0

12.0

12.1

India - US Trade in Services

29.2

31.1

33.7

37.6

43.0

46.4

51.8

% change

16.8

6.5

8.4

11.6

14.4

8.0

11.6


India – US Total Bilateral Trade ($ Billions)

 

2011

2012

2013

2014

2015

2016

2017

India's exports to US

53.6

59.3

62.2

67.8

69.4

71.8

77.3

% change

21.3

10.6

4.9

9.0

2.4

3.5

7.7

India’s imports from US

33.3

34.4

35.1

36.7

39.6

42.2

48.8

% change

12.9

3.3

2.0

4.6

7.9

6.6

15.6

India – US Total Bilateral Trade

86.9

93.7

97.3

104.5

109.0

114.0

126.1

% change

17.9

7.8

3.8

7.4

4.3

4.6

10.6

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

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

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

Bilateral Trade Trends during 2018

India's Exports to the U.S. - Top 10 Items
January - May 2018

 HS Code

Commodity

US $ Million

% Share

% Change 2018/2017

71

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

4867

21.5

12.36

30

Pharmaceutical Products

2621

11.58

2.3

84

Nuclear Reactors, Boilers, Machinery Etc.; Parts

<1326

5.86

39.5

27

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

1293

5.71

19.43

87

Vehicles, Except Railway Or Tramway, And Parts Etc

1235

5.46

147.73

62

Apparel Articles And Accessories, Not Knit Etc.

1035

4.57

3.33

63

Textile Art Nesoi; Needlecraft Sets; Worn Text Art

1031

4.55

-4.17

29

Organic Chemicals

984

4.35

15.47

61

Apparel Articles And Accessories, Knit Or Crochet

760

3.36

6.91

03

Fish, Crustaceans & Aquatic Invertebrates

748

3.3

18.6

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

India’s Imports from the U.S. - Top 10 Items
January -May 2018

 HS Code

Commodity

US $ Million

% Share

% Change 2018/2017

71

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

3204

25.68

11.93

27

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

1935

15.51

111.39

88

Aircraft, Spacecraft, And Parts Thereof

1010

8.09

84.34

84

Nuclear Reactors, Boilers, Machinery Etc.; Parts

863

6.91

0.36

85

Electric Machinery Etc; Sound Equip; Tv Equip; Pts

666

5.34

26.06

90

Optic, Photo Etc, Medic Or Surgical Instrments Etc

626

5.02

9.54

29

Organic Chemicals

532

4.26

40.24

39

Plastics And Articles Thereof

374

2.99

17.28

47

Wood Pulp Etc; Recovd (Waste & Scrap) Ppr & Pprbd

324

2.6

65.42

08

Edible Fruit & Nuts; Citrus Fruit Or Melon Peel

317

2.54

19.56

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

 

Top 5 Competitors of India’s top 5 Exports to the U.S.
January 2018-May 2018

S.No.

HS Code

India’s Top 5 export items to US

US $ Million

Top 5 Competitors

1

71

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

4867

Israel, Mexico, Canada, Belgium, South Africa

2

30

Pharmaceutical Products

2621

Ireland, Germany, Switzerland, United Kingdom, Italy

3

84

Nuclear Reactors, Boilers, Machinery Etc.; Parts

1326

China, Mexico, Japan, Germany, Canada

4

27

Mineral Fuels, Mineral Oils, Bituminous Substances; Mineral Waxes

1293

Canada, Saudi Arabia, Iraq, Mexico, Venezuela

5

87

Vehicles, Other Than Railway Or Tramway Rolling Stock, And Parts And Accessories Thereof

1235

Mexico, Canada, Japan, Germany, South Korea

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 2018 amounted to $ 22.42 billion constituting 6% of the total FDI inflows into India. During the latest fiscal April 2017 – March 2018, FDI from US stood at $ 2.10 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 as on year 2016 amounted to $ 32.9 billion whereas Indian FDI into the US as on year 2016 amounted to $ 12.1 billion.

As on July 12, 2018

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

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

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