India - U.S. Bilateral Trade
India – US Trade
Trade and commerce form a crucial component of the rapidly expanding and multi-faceted relations between India and U.S. From a modest $ 5.6 billion in 1990, the bilateral trade in merchandise goods has increased to $ 62.9 billion in 2012 representing an impressive 1023.2% growth in a span of 22 years.
India's merchandise exports to the U.S. grew by 2.83% from $ 37.74 billion during the period January- November 2012 to $ 38.81billion during the period January- November 2013. US exports of merchandise to India grew by 2.24% from $ 19.87 billion during the period January- November 2012 to $ 20.32 billion during the period January- November 2013. India - U.S. bilateral merchandise trade stands at $ 59.13 billion during this period.
Trade during the period Jan. - Nov. 2013
i) i) Major items of export from India to US
Select major items with their percentage shares, are given below.
a) Textiles (15.8%)
b) Precious stones & metals (22%)
c) Pharmaceutical products (10.5%)
d) Mineral Fuel, Oil (9.7%)
e) Organic chemicals (5.1%)
f) Machinery (4.5%)
g) Lac, Gum, Resins (4.4%)
h) Electrical Machinery (3%)
ii) Major items of export from US to India
Select major items with their percentage shares, are given below
a) Precious stones & metals (27%)
b) Aircraft, spacecraft, Parts (13.8%)
c) Machinery (10.3%)
d) Electrical machinery (6%)
e) Mineral Fuel, Oil etc (5.8%)
f)) Optical instruments & equipment (5.7%)
g) Organic chemicals (3.7%)
h) Plastic products (3.1%)
Trends with respect to the major items of bilateral trade during the past two years are as follows.
India’s exports to US
- Cut and polished diamonds and jewelry is a major item of India's exports to the US, accounting for 17.7%. Exports of this item fell from $ 8.01 billion in 2011 to $ 7.16 billion in 2012, a decrease of 10.6%.
- Textiles exports accounted for 15.3% of India's exports to the US in 2012. Textile exports fell from $ 6.28 billion in 2011 to $ 6.20 billion in 2012, a decrease of 1.29%.
- Exports of pharmaceutical products grew from $ 3.21 billion in 2011 to $ 4.23 billion in 2012, an increase of 31.5%.
- Exports of lac, gums, and resins grew by 240% from $1.04billion to $ 3.52 billion in 2012.
- Exports of mineral fuel, oil grew from $ 3.19 billion in 2011 to $ 3.26 billion in 2012, an increase of 2.3%.
- Exports of organic chemicals grew by 9.9% from $ 1.98 billion in 2011 to $ 2.18 billion in 2012.
US exports to India
- Exports of precious stones and metals which accounted for 26.1% of exports from US to India grew by 26.3% to reach $ 5.84 billion in 2012 from $ 4.62 billion in 2011.
- Machinery exports fell by 8.7% from $ 2.91 billion in 2011 to $ 2.66 billion in 2012.
- Exports of electrical machinery fell by 8.1% from $ 1.53 billion in 2011 to $1.41 billion in 2012.
- Exports of optical, photo, surgical instruments grew by 16.4% from $ 1.18 billion to $ 1.38 billion in 2012.
- Exports of aircraft, aviation machinery and parts, grew by 78.3% to $ 1.37 billion in 2012 from $0.77 billion in 2011.
During the year 2007, the basket of US imports to India included exceptionally large imports of aircraft /parts, which resulted in a leap in the growth rate of US exports to 54.7%. With this component excluded, the growth rates of US exports in 2007 and 2008 were 37.5% and 39.9% respectively.
Contact Details of Commerce Wing
General Fax: (415)668-2073
For trade related queries
Telephone: (415)668-0662 x 162
For all other and general queries:
Commerce: Mr. Purshottam Bhatnagar
Telephone: (415)668-0662 x 162