U.S.-India Trade Relations (CRS Report for Congress)
| Release Date |
Revised March 31, 2023 |
| Report Number |
IF10384 |
| Report Type |
In Focus |
| Authors |
Shayerah Ilias Akhtar, K. Alan Kronstadt |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
The United States and India view each other as important
strategic partners to advance common interests regionally
and globally. Bilateral trade in goods and services is about
2% of U.S. world trade, but tripled in value between 2005
and 2017, reaching $126 billion (Figure 1). The trade
relationship is more consequential for India, for whom the
United States was its second largest export market (16%
share) after the European Union (EU, 17%), and third
largest source of imports (6%) after China (17%) and the
EU (10%) in 2017. U.S.-India foreign direct investment
(FDI) is small but growing. Defense sales are significant in
bilateral trade as well. Civilian nuclear commerce, stalled
for years over differences on liability protections, has
produced major potential U.S. supply contracts. Many
observers believe bilateral commercial ties could be more
extensive if trade and investment barriers were addressed.
Bilateral trade frictions exist on numerous fronts, though
the two sides are working to resolve some issues.
