According to India's consul general Melinda Pavek, trade between the United States and its top 15 trading partners grew over the past year, with India seeing the single-largest increase.
Pavek said that India-U.S. trade reached $67 billion in the first half of 2022 while speaking at a session of the East India Summit 2022 hosted here by the Confederation of Indian Industry (CII). "Exports to India were $23 billion, while Indian exports to the U.S. stood at $44 billion during January-June.
"Over the past year, commerce between the United States and its top 15 trading partners has increased, but I'm delighted to say that India saw the single-largest growth. Indian companies routinely receive the most foreign direct investment (FDI) from the US, "She said.
According to official data, bilateral commerce in products and services between the United States and India totaled $157 billion in 2021. China, Canada, Mexico, Japan, Germany, the United Kingdom, and France are a few of the U.S.'s largest trading partners.
Several American organisations are working on development initiatives in eastern India, according to Ms. Pavek. "Being based in Kolkata, a major hub of India's Act East Policy, has made it easier for us to comprehend the significant potential for improving regional connectivity, particularly among the BBIN countries, in this area of India through the development of ports, inland waterways, and multi-modal logistics infrastructure (Bangladesh, Bhutan, India and Nepal).
She said, "We hold meetings with the Kolkata port authorities to identify prospective areas of commercial engagement in their projects. We closely monitor the development of port facilities at Kolkata and Haldia.
Ms. Pavek noted that the United States collaborates with the West Bengal Transport Department to figure out how to help inland water transport projects in this state that are financed by the World Bank.
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