(a) the total value of trade on which agreement has been reached between India and the U.S. at present in monetary terms;
(b) whether the trade between the two countries is likely to have great potential in future;
(c) if so, the details thereof; and
(d) the salient features of the agreement signed between the two countries?
MINISTER OF COMMERCE & INDUSTRY
(SHRI MURASOLI MARAN)
(a),(b),(c)&(d) Trade between India and the USA has great potential and the trade balance is in India`s favour. The value of trade in rupees during the last three years along with the trade balance, can be seen in the statement below:
(Rs in crores)
Year Exports Imports Trade Balance 1997-98 25276.65 13813.69 (+) 11462.96 1998-99 30841.56 15319.25 (+) 15522.31 1999-2000 (P)For further promoting bilateral trade, India and the United States of America have agreed to set up the India-US Commercial Dialogue and its Terms of Reference were signed on 23.3.2000. The framework aims to (a) facilitate trade (b) maximise investment opportunities across a broad range of economic sectors, including information technology, infrastructure, biotechnology and services.
(April-December)26621.25 12607.52 (+) 14013.73
(P) Provisional Data