US-India trade hits US$38.5 billion in 2010

OVER the past decade trade between the United States and India has surged by 169 per cent to reach US$38.5 billion in 2010, according to statistics from Veritrade.

During this period, US exports to India have soared by almost 350 per cent since 2000, making India the 17th-largest market for US products and representing 1.6 per cent of all US exports, reports the American Shipper.

The top US exports to India are non-industrial diamonds, gold (unwrought or bars), civilian aircrafts, heavy machinery, boilers and mechanical appliances, electrical machinery, equipment/parts and fertilizers.

Meanwhile, US imports from India have risen by 107 per cent, "with pharmaceutical imports alone increasing from $5.9 million in 2000 to $1.7 billion, a massive 28,000 per cent increase," the report said.

US imports from India are led by non-industrial diamonds, jewellery and textile garments, which together account for about 40 per cent of total US imports from India.
(Source:www.schednet.com)