Indo-US trade rises to $48.71 bn during Apr-Dec

Reflecting an improvement in economic ties with the US, the bilateral trade has increased to $48.71 billion during April-December of this fiscal, Parliament was informed on Friday.

The two-way commerce is estimated at about $46.83 billion in April-December 2013. During the first nine months of the current fiscal, exports to the US aggregated at 432.48 billion and imports $16.22 billion, Commerce and Industry Minister Nirmala Sitharaman said in a written reply in the Lok Sabha. Budget 2015: Complete Coverage

Further, the country's exports of top 10 commodities including petroleum products, drug formulation, cotton fabrics and marine products to the US have increased to $19.95 billion during April-December 2014 from $18.18 billion in the same period last year.

Economic Survey 2014-15

Imports of top 10 commodities including gold, aircraft, electric machinery, medical and telecom instruments rose to $8 billion during the period from $6.43 billion in April-December 2013.

The two-way commerce in 2013-14 stood at $61.66 billion as compared to $61.36 billion in the previous fiscal.  

The minister said that during the recent visit of US President to India, both the sides agreed to continue to strengthen their broad-based partnership for development through stronger trade, technology, manufacturing and investment linkages between the two countries.

Image: India's Prime Minister Narendra Modi (C) hugs US President Barack Obama as first lady Michelle Obama (L) looks on upon their arrival at Air Force Station Palam in New Delhi.

Photograph:Press Information Bureau/Handout via Reuters