Trade between India and US could cross USD 100 bn this year
Trade between India and the US has increased by 40% since the launch of the India-US Strategic Dialogue by the Obama administration three years ago and could cross the $100 billion mark this year, a senior administration official said.
"The elevation of Indo-US relationships to that of a strategic dialogue in 2009 has produced real results for the well-being and security of the people of the two countries," the assistant secretary of state for south and central Asia, Robert Blake, said. The third annual session of the strategic dialogue was held in June this year. "To take one example, the trade between our two countries is up 40% since we began our strategic dialogue and it may exceed, we hope to $100 billion this year," he added.
Blake was addressing the Indian American community at an event organised by the National Council of Asian Indian Associations (NCAIA). "Since India's independence, and most notably over the last decade, we have woven the tapestry of cooperation into one of the broadest and deepest bilateral relationships in the world. Today, this is a relationship that knows no limits," he said.
"On virtually every field of human endeavor, the US and India are partnering to shape a more secure and prosperous environment not just in our two countries, but throughout the world," he added.
The US officials appreciated the role of the Indian American community in strengthening ties between the two countries.