U.S. exports to India doubles in last 3 years

By Sources   |   Thursday, 01 December 2005, 20:30 IST
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BANGALORE: U.S. exports to India have doubled from $4 billion in 2002 to $8 billion during 2005, according to U.S. Under Secretary, Department of Commerce, David McCormik. Participating in an interactive session with members of Confederation of Indian Industry (CII) in Bangalore on Tuesday, McCormik said U.S. exports to India were set to register a substantial growth during the next year. During the year 2005, McCormik said about 91 percent of U.S. exports to India did not require a license. However, he said there were certain "perceptional problems" between the two countries and U.S. administration was working with Indian companies to get the facts on the table. McCormik also said that the U.S. had imposed restrictions on four companies, which supply equipment to Indian Space Research Organization (ISRO) facilities. To a question, McCormik said he was looking forward bringing about mutual co-operation between U.S. and Indian small and medium enterprises.