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2013-02-15

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

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.

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 R.K. Chopra, Secretary General of the Indo-American Chamber of Commerce.

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