Summary:

India and the US aim to boost bilateral trade to Rs. 43,47,500 crore (US$ 500 billion) and finalize a trade agreement within six to eight months, as stated by Minister Piyush Goyal. Following PM Modi’s US visit, both nations plan to negotiate a multi-sector trade agreement by 2025, pending discussions with the new US trade leadership.

In 2023, India-US bilateral trade reached Rs. 16,52,745 crore (US$ 190.08 billion), with India exporting Rs. 7,28,380 crore and importing Rs. 3,48,843 crore, maintaining a trade surplus. Services trade also favored India. The US has been India’s top trading partner since 2021, with Rs. 5,89,521 crore in FDI. Both nations aim to ease trade barriers.

Source: IBEF

Disclaimer: The information on this website comes from the India Brand Equity Foundation (IBEF), a reliable source for thorough insights into numerous areas of the Indian economy. While we aim to offer accurate and up-to-date information, the views, opinions, and analyses stated herein are solely those of the authors and contributors and do not necessarily represent IBEF's official stance or position. Readers should check information from credible sources and use their own discretion when relying on content provided on this site. We assume no responsibility or liability for the supplied content, including its accuracy, completeness, and usefulness.