Indo-US Trade and Business

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Foreseen as one of the most powerful nations by the 2030's, India is definitely on a roll. Once an underdeveloped economy, India has finally managed to rise against all odds and is all set to rank along with the developed nations of the world. Once a matter of great hue and cry, today one of the biggest assets; India's sizable population along with its growing middle and higher income class makes her one of the most potential markets for trade and business. India shares trade relations with quite a few countries but the most striking is India's trade and commerce relations with the United States of America.

According to the figures from the department of Commerce India's exports to U.S in August 2010 were valued at ` 77509 crore) and her imports from India during the same time were valued at Rs.138211 crore respectively. Among the fastest growing Indian exports to the U.S. is Zinc, steel and sugar while, antiques, military products and artwork are leading imports into India from the United States of America.

The introduction of certain economic reforms with the United States in 1991 set the ball rolling for Indo U.S trade. Both the nations having their own strengths and weaknesses entered into business relations that would be mutually beneficial. The reforms saw a radical change in the course of the Indian economy. These reforms proved a boon for the nation and led to better growth rates, higher investments and trade flows and finally accelerated decline in income poverty. The effects of these reforms on trade and investment relations with the United States have been commendable.

Some of the major multi national corporations of USA that are doing a profitable business in India are; Whirlpool, Ford (India), Tecumseh Products (India) Limited, Pepsi, Proctor and Gamble (India), Microsoft, Intel, IBM Corporation, General Electric, Sun Microsystems, Adobe Systems Inc, Agilent Technologies Inc, Oracle Corporation etc.

Indian Exports to U.S.

Below is a list of the major items exported to U.S from India :
  • Textile floor coverings (e.g. rugs)
  • Diamonds
  • Medicinal, dental and pharmaceutical preparations
  • Generators, transformers & accessories
  • Semi-finished iron & steel products
  • Cotton household furnishings & clothing
  • Jewelry
  • Non-cotton household furnishings & clothing
  • Industrial machinery
  • Industrial organic chemicals
Indian Imports from U.S.

Below is a list of the major items imported from U.S to the India :
  • Industrial machines
  • Civilian aircraft
  • Medicinal equipments
  • Chemical fertilizers
  • Organic chemicals
  • Other petroleum products
  • Computer accessories
  • Telecommunications equipment
Trade with India: 2009
Below is a table representing trade between India and U.S for the year 2009.
Month Exports Imports
January 1,139.8 1,833.5
February 1,046.8 1,579.0
March 1,123.5 1,773.0
April 1,268.8 1,799.2
May 1,507.5 1,580.8
June 1,397.9 1,564.2
July 1,658.0 1,824.8
August 1,677.8 1,643.7
September 1,641.6 2,069.0
October 1,502.9 1,989.8
November 1,070.0 1,724.1
December 1,406.7 1,784.6
Total 16,441.4 21,166.0

Last Updated on 05/07/2011