India-U.S. trade crossed $24.7 bn in 2002

Thursday, 13 March 2003, 20:30 IST
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The two-way trade between India and the U.S. crossed $24.7 billion in the year 2002 and is expected to go up further after the two countries agreed to promote high technology commerce, including in dual-use goods and technologies, Parliament was told Wednesday.

NEW DELHI: Giving the break-up of the trade figure, Minister of State for External Affairs Vinod Khanna said in a written answer in the Lok Sabha that while merchandise trade accounted for $15.9 billion, IT and related services contributed $8.8 billion. He noted that India and the U.S. signed on February 5 in Washington a statement of principles to further promote and facilitate high technology commerce, including trade in dual-use goods and technologies. "The implementation of the statement is expected to accelerate India-U.S. trade in goods and services, which grew by 15 per cent in 2002 over the level in 2001. "Further it would also enhance India's access to controlled dual-use goods and technologies from the U.S," he added.
Source: IANS

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