U.S. Business Delegation Visits India; Bilateral Trade Growing at 20% Annually

A delegation of 250 American business executives, representing more than 180 companies in sectors including health care, information technology, energy and telecommunication, is visiting India to explore new opportunities to invest in India and develop partnerships with local companies as part of the the two-day "India Business Summit". 

Bilateral trade between India and the United States in 2005 stood at $26.8 billion and is growing at a rate of about 20% annually.

Total US exports to India in 2005 were $7.9 billion, an increase of 30%t over 2004. Through September 2006, US exports have grown 24.3% over the same period last year.

With India's economy cruising ahead at over 8% a year growth, foreign companies and investors have taken a keen interest in the Indian market and its more than 1 billion consumers.

The India Business Summit and the U.S. delegation visit has been organized by two powerful trade bodies in India - the Federation of Indian Chambers of Commerce and Industry and the Confederation of Indian Industry.

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