Right Time To Improve Trade Ties With India: U.S. Official

The commercial importance of India is growing: it is the world's third largest economy measured by GDP in terms of purchasing power parity, the 10th largest in nominal GDP, and the eighth largest consumer economy, he said.

"It has an urban middle class forecasted to reach 400 million people and a significant 'affluent class', both of which translate into high-potential markets for U.S. exporters.

"India is currently a relatively small market for the U.S., in terms of total U.S. exports, highlighting the potential opportunity for continued growth," he said.

Manufactured goods such as diamonds, gold, and jewelry; aircraft and aircraft parts; and machinery are among the leading products that the U.S. exports to India, Kumar said.

A priority for ITA is to expand opportunities for U.S. exporters in India. Another priority is to increase direct investment in the U.S. from India, he noted.

"These efforts are part of a broader Administration effort to increase prosperity in both countries and complement bilateral efforts to enhance regional and global security. This ultimately strengthens democracy and civil society around the world," Kumar said.

ITA currently has seven posts in India -- New Delhi, Chennai, Ahmedabad, Bangalore, Hyderabad, Kolkata, and Mumbai-- which gives it the largest footprint of any ITA operation outside the U.S.

Also Read:
NRI Scientists Express Willingness To Work In India: Govt