MUMBAI: India’s economic growth and development could support significantly more American exports in the future, the Trump administration has said.
“Although existing Indian trade and regulatory policies have inhibited an even more robust trade and investment relationship, India’s economic growth and development could support significantly more US exports in the future,” the US Trade Representative said in its trade policy agenda and annual report to Congress yesterday. Two-way US-India trade in goods and services in 1980 was only USD 4.8 billion and it grew to an estimated USD 114 billion in 2016, the USTR said, adding that an annual growth rate over this period was more than nine per cent.
