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

WASHINGTON: Describing India as a huge market for U.S. businesses, a top Obama Administration official has said it could be the right time to improve bilateral trade ties as there is a new government in charge in New Delhi.

"India is a huge country with an enormous market that significantly underperforms in the context of its commercial relationship with the U.S.," Arun Kumar, Assistant Secretary of Commerce for Global Markets and Director General of the U.S. and Foreign Commercial Service International Trade Administration told lawmakers during a Congressional hearing.

"With a new government in charge, the timing may be right to materially improve our bilateral trade relationship, which could translate into greater opportunities for U.S. businesses. Despite all of the economic and commercial challenges we face in India, it is an important global partner and key player in the region," he said.

He said from 2000-2013, U.S.-India trade in goods and services has grown from $19 billion to $97 billion a year.

"Having recently returned from India where I met senior Government of India officials, chambers of commerce, and leaders of U.S. and Indian businesses, I would agree that the potential is indeed vast," he said.

Kumar said the U.S.-India Strategic Dialogue meeting, scheduled for July 31 in which Secretary of State John Kerry will participate, will build on Prime Minister Narendra Modi's agenda to return India to robust and sustainable growth.

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