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