US: India’s new top trade partner

2018-19 data from the Commerce & Industry Ministry has revealed that surpassing China, the USA has emerged as India’s top trading partner. The bilateral exchange between the US and India added up to USD 87.95 billion when contrasted with USD 87.07 billion with China, which was India’s top trade partner from 2013-14 till 2017-18. USA is one of the handful nations with which India has a trade surplus. In the year 2018-19, this surplus amounted to US$ 16.85 billion. Experts believe that a trade deal is likely to augment this relationship further.

Ahead of his maiden visit to India, US President Trump told reporters, “Well, we can have a trade deal with India, but I’m really saving the big deal for later on”. Some of the other areas where the two leaders are likely to hold discussions include counter-terrorism, defense, collaborations in mental health and healthcare.