TRADE AND ECONOMIC PARTNERSHIP BETWEEN INDIA AND USA

Kaushalendra Pal Singh; Dr Rajanikant Verma

Volume : VI, Issue : I, January - 2016

TRADE AND ECONOMIC PARTNERSHIP BETWEEN INDIA AND USA

Kaushalendra Pal Singh, Dr Rajanikant Verma

Abstract :

The same as the world’s 3rd largest economy, India is a significant trade and economic partner for the United States. The India and United State of America contribute to a well–built and emergent economic relationship driven by commercial and visionary individual, institution and business in both countries. This commitment including trade, education, cultural and domestic ties has always been at the leading edge of the U.S.A.–India relationship and strategic partnership and continues to expand. Our bilateral trade expanded six times from 2000 to 2013. USA goods export to India totalled dollar thirty five billion last year, supporting a creation of huge amount of employment in Indian as well as in USA. The investment in India by USA exceeded twenty eight billion dollar and a survey of the largest USA employers in India indicates that USA investment supports half a million jobs in India. In advancement of government act to make easy investment in both direction and open new sectors to private investment will continue to speed up the economic growth, development and increased wealth that our deep economic commitment has delivered to both countries. To estimate the trade potential, total bilateral trade potential and the items having the largest potential between India & USA .To observe the trade possibilities in the services sector. Explore the trade potential between India and USA. To concludes magnitude of informal and formal trade. Explore the channels of investment flows deepen trade linkages and the role of institutions in enhancing trade. Trade and commerce form a crucial component of the swiftly growing and multi–faceted relation between India & USA form a modest in 1990, the trade in merchandise goods has increased to twelve times in 2014. India’s merchandise export to the USA grew by around eight percent from year 2013 to 2014. USA exports of merchandise to India fell by one percent from year 2013 to 2014. India –USA bilateral merchandise trade during the period January–December 2014 was sixty seven billion dollar. Bilateral economic and trade relation, as well as India’s role in international trade bodies represent major pillars of the still relatively new major power friendship. The US government aspire to reach five hundred billion dollar in annual bilateral goods & services trade with India by 2024, a more than five –fold increase from the ninety seven billion dollar total in 2013.The relationship also support employment in both countries.