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Friday, February 15, 2013

Indo-US Trade in merchandise goods crosses US $ 62 billion in 2012

Mumbai, February 15, 2013 – Trade and commerce form a crucial component of the rapidly expanding and multi-faceted relations between India and the United States.

According to the recent statistics the total Indo-US Trade in Merchandise goods for the  Calendar year 2012 (January-December) is US$ 62.85  billion with balance of trade surplus of US$ 18.18 billion in favor of India. This is an increase of 9.66 % over the same period in previous year.  US Exports to India have gone up by 3.88 % from US$ 21.5 billion to US$ 22.34 billion and US Imports from India have gone up by 13 % from US$ 36.15 billion to US$ 40.85 billion during the year 2012.
 
Major items of exports from India to USA include textiles & woven apparel, precious stones and metals (diamond); pharmaceutical products; mineral fuel (oil); lac, gums and resins; Organic chemicals; agricultural products (tree nuts, spices, essential oils, rice and vegetable oils); electrical and other machinery.
 
During the year 2012, India imported the following major items from USA: raw precious stones and metals; machinery; mineral fuel and oil; optical instruments and equipment’s; electrical machinery; aircraft parts; organic chemicals; agricultural products (fresh fruit, cotton and pulses) and plastic products.
 
The recent opening up of the Indian economy and policy reforms in multi-brand retail, civil aviation and banking amendments will further boast bilateral trade and investments between the two countries said Mr. R.K. Chopra, Secretary General of the Indo-American Chamber of Commerce.
 
Established in 1968, The Indo-American Chamber of Commerce (IACC) is committed to promoting trade and commerce between India and the United States and is now the leading bilateral Chamber at the forefront of facilitating stronger business ties between two of the world's largest economies. 

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