The South Asian Times

17 December 2018 14:00 PM

America is now India's biggest trade partner: US diplomat

Bengaluru: With bilateral trade between India and the US reaching $115 billion last year, US is now India's "No. 1  trade partner", a US diplomat said here on Tuesday.

"The United States is now India's number one trade partner and US exports of goods and services to India support more than 200,000 US jobs," US Consul General in Chennai Robert G. Burgess said at the inaugural session of "Unlocking US-India Trade Potential", a two-day trade conference being held in Bengaluru by US Consulate in Chennai.

The bilateral trade between the countries that expanded to nearly $115 billion in 2016 was an "all-time high", said Burgess.

"We are seeing cooperation expand in new areas. Bilateral defense trade has risen from near zero to more than $15 billion in the last decade. We aim for that upward trajectory to continue," he said, adding India and the US are "natural and highly influential partners".

Burgess said that last month, there was the first export of US crude oil to India in more than 40 years, which could add $2 billion annually to bilateral trade.

US Secretary of State Rex Tillerson, who had visited India in October, has laid out an "expansive plan" to take the US-India partnership to "new heights" not just for the duration of this administration, but for the next 100 years, he said.

Nearly four million Americans of Indian descent call the US their home, Burgess said, adding, "Over 600 American companies operate in India and Bengaluru hosts the largest concentration of US businesses in India"

Update: 10 Nov, 2017


Star to HotStar