New Delhi, India - The Commerce Minister of India, Piyush Goyal, and the US Commerce Secretary, Gina Raimondo, acknowledged the significant increase in bilateral trade between India and the United States during a recent commercial dialogue meeting. The two leaders noted that the goods and services trade between the two countries had nearly doubled since 2014, reaching an impressive $191 billion in 2022.
This growth in bilateral trade is a clear indication of the strong economic ties between India and the US. The two countries have been actively working to increase trade and investment, which has led to the opening of new opportunities for businesses on both sides.
During the meeting, Minister Goyal and Secretary Raimondo discussed ways to further enhance the economic relationship between India and the US. They recognized the need to work collaboratively to address challenges and remove barriers to trade, as well as to encourage innovation and promote sustainable economic growth.
The discussions covered a wide range of sectors, including energy, infrastructure, technology, and healthcare. The two leaders expressed their commitment to working together to advance trade and investment in these sectors, and to explore new opportunities for collaboration.
The increasing trade between India and the US has already brought significant benefits to businesses in both countries. US companies are investing heavily in India, attracted by the country's large and growing consumer market, its skilled workforce, and its pro-business policies. Meanwhile, Indian companies are expanding their presence in the US, with many companies setting up operations in the country to access new markets and technologies.
The growth in bilateral trade between India and the US is a positive sign for the global economy, as it demonstrates the potential for countries to work together to promote economic growth and development. With continued collaboration and investment, the relationship between India and the US is set to become even stronger in the years ahead, bringing new opportunities and benefits to businesses and citizens on both sides.