India, U.S. Trade In Goods Touch An All-Time High In 2013

By siliconindia | Friday, 07 February 2014, 12:18 Hrs

Washington: The India-U.S. trade reached an all-time high of over $63.7 billion in 2013, with a nearly $20 billion balance in favour of India, official figures released for the year disclosed.

This record India-U.S. trade in goods was registered in a year in which there was a lot of hue and cry in the United States, including the Obama Administration, American businesses and the Congresses, ruing on Indian trade policies.

According to the figures released by the U.S. Census Bureau, in 2013 the U.S. exported $21.87 billion worth of goods to India, while imported $41.82 billion worth of goods, with the over trade being a record $63.7 billion, an increase of 1.7 per cent from the previous year of 2012.

The India-U.S. trade has jumped multiple times in the last one decade. In 2003, the U.S. had exported goods worth $4.9 billion to India and had imported goods worth $13 billion, making a total of nearly $18 billion, according to figures.

Source: PTI