India-US Economic Relations: A Thriving Partnership with Endless Opportunities
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India and the US have established a strategic economic partnership; total merchandise trade reached nearly $120 billion in FY24; India’s exports to the US were $77.5 billion, imports totaled $42.2 billion; total trade in services is approximately $59 billion; US is India's largest trading partner; US FDI in India reached $66.7 billion from April 2000 to June 2024; significant cooperation in technology, manufacturing, defence, and biotechnology; iCET initiative launched in 2023 focuses on semiconductors, cybersecurity, AI; MoU on Semiconductor Supply Chain signed; India-US Defence Industrial Cooperation Roadmap concluded in May 2023; Mahindra Group celebrates 30 years in the US; 72 unicorn startups in the US led by Indian-origin founders; partnership includes 'The Quad' with Japan and Australia; sustained engagement needed for future growth.
#India #Us #Trade #Economy #Fdi #Technology #Defence #Partnership #Innovation #GlobalRelations
https://www.financialexpress.com/opinion/india-us-economic-relations-a-thriving-partnership-with-endless-opportunities/3616760/
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