Thursday , August 17 2017
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Indo-US bilateral trade reaches $109 billion

New Delhi: US Commerce Secretary Penny Pritzker, before her 3-day trip to India from, said, “India’s rapidly growing economy and the Modi government’s ambitious reform agenda, including the landmark Goods and Services Tax, passage of the recent national bankruptcy law, and liberalised foreign direct investment limits in key sectors, point toward a deeper economic relationship in the years ahead.”
“Our two countries enjoy a thriving trade and investment relationship. US-India bilateral trade reached $109 billion in 2015, up from $37 billion in 2005. US and Indian companies are also investing in each other’s economies at record levels. In 2015, US investment in India reached more than $28 billion and Indian investment in the United States reached more than $11 billion. In fact, US affiliates of Indian-owned firms now employ more than 52,000 workers in the US,” Ms Pritzker added.

Asserting that there is a tremendous potential for the US and India to achieve even more together, the Secretary said she is particularly excited over two new areas of focus that will drive their cooperation in the coming year — travel and tourism and subnational engagement.