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International News

Feb 10, 2020

India, US got momentum in recent times, says US-India Strategic & Partnership Forum

United States-India Strategic and Partnership Forum in Washington has said that bilateral trade between India and the US has got momentum in recent times and it is moving in favour of Washington. The group said that it is mainly due to the sudden increase in energy import by New Delhi that the trade got momentum. The forum is a top India-centric American trade and strategic advocacy group.

Noting that the India-US trade has gone up from 142 billion US Dollars in 2018 to 160 billion US Dollars in 2019, the forum's President Mukesh Aghi said that the bilateral trade numbers are going up without trade deal and when the big ticket items such as Boeing planes are not being delivered.

He said, India's private air carrier Spice Jet has placed an order for 200 planes to Boeing. As such, the trade numbers would go up significantly, once the delivery of the planes kicks in motion. Mr Aghi said that even after the US withdrew India's privileges under Generalized System of Preferences, the export in that sector had not slowed down.

The momentum on the bilateral trade continues even as a trade deal between the two countries is still being negotiated. He said that American companies continued to be bullish on India and will continue with their investment in the country. He further said, they are showing a substantial growth on the current base itself and are also gaining the market share.

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