US Commerce Secretary to lead business delegation to India in March

The bilateral trade between the two nations has increased to $65.39 billion during April-January this financial year against $62.27 billion a year ago

US Commerce Secretary Gina Raimondo will be leading a big business delegation to India in the second week of March to discuss ways to further boost trade and investment ties between the countries, an official said.

Raimondo is scheduled to co-chair the US-India CEO Forum and US-India Commercial Dialogue meetings with her Indian counterpart Commerce and Industry Minister Piyush Goyal here, the official added.

"The meetings are expected on March 8," the official said.

The US is the top trading partner of India. The bilateral trade between the two nations has increased to USD 65.39 billion during April-January this fiscal against USD 62.27 billion a year ago.

Imports too rose to USD 42.9 billion during the ten months of this fiscal as compared to USD 34.34 billion during April-January 2021-22.

Trade experts believe that the trend of increasing bilateral trade with the US will continue in the coming years too, as New Delhi and Washington are engaged in further strengthening the economic ties.

India has received about USD 5 billion in Foreign direct investment (FDI) from the US during April-December 2022-23.