Indo-US trade rises to $48.71 bn during Apr-Dec

Reflecting an improvement in economic ties with the US, the bilateral trade has increased to USD 48.71 billion during April-December of this fiscal, Parliament was informed today.
The two-way commerce is estimated at about USD 46.83 billion in April-December 2013.
During the first nine months of the current fiscal, exports to the US aggregated at USD 32.48 billion and imports USD 16.22 billion, Commerce and Industry Minister Nirmala Sitharaman said in a written reply in the Lok Sabha.
Further, the country's exports of top 10 commodities including petroleum products, drug formulation, cotton fabrics and marine products to the US have increased to USD 19.95 billion during April-December 2014 from USD 18.18 billion in the same period last year.

Imports of top 10 commodities including gold, aircraft, electric machinery, medical and telecom instruments rose to USD 8 billion during the period from USD 6.43 billion in April-December 2013.
The two-way commerce in 2013-14 stood at USD 61.66 billion as compared to USD 61.36 billion in the previous fiscal.
The minister said that during the recent visit of US President to India, both the sides agreed to continue to strengthen their broad-based partnership for development through stronger trade, technology, manufacturing and investment linkages between the two countries.