Page 84 - IACC Newsletter August-September 2013 Issue 13

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India – US Trade Analysis
Trade and commerce form a crucial component of the rapidly expanding and multi-faceted relations between India and
U.S. From a modest $ 5.6 billion in 1990, the bilateral trade in merchandise goods has increased to $ 62.9 billion in 2012
representing an impressive 1023.2% growth in a span of 22 years.
India’s merchandise exports to the U.S. grew by 3.62% from $ 27.94 billion during the period January- August 2012 to $
28.95 billion during the period January- August 2013. US exports of merchandise to India grew by 9.55% from $ 13.80
billion during the period January- August 2012 to $ 15.11 billion during the period January- August 2013. India - U.S.
bilateral merchandise trade stands at $ 44.06 billion during this period.
Trade during the period Jan. – August 2013
i) Major items of export from India to US
Select major items with their percentage shares, are given below.
a) Textiles (15.5%)
b) Precious stones & metals (21.8%)
c) Mineral Fuel, Oil (11.3%)
d) Pharmaceutical products (10.3 %)
e) Organic chemicals (5%)
f) Lac, Gum, Resins (5%)
g) Machinery (4.3%)
h) Electrical Machinery (3.3%)
ii) Major items of export from US to India
Select major items with their percentage shares, are given below
a) Precious stones & metals (28.2%)
b) Aircraft, spacecraft, Parts (12.7%)
c) Machinery (10.6%)
d) Electrical machinery (5.9%)
e) Optical instruments & equipment (5.6%)
f)) Mineral Fuel, Oil etc. (5.4%)
g) Organic chemicals (3.6%)
h) Plastic products (3%)
Trends with respect to the major items of bilateral trade during the past two years are as follows
India’s exports to US
Cut and polished diamonds and jewelry is a major item of India’s exports to the US, accounting for 17.7%.
Exports of this item fell from $ 8.01 billion in 2011 to $ 7.16 billion in 2012, a decrease of 10.6%.
Textiles exports accounted for 15.3% of India’s exports to the US in 2012. Textile exports fell from $ 6.28 billion
in 2011 to $ 6.20 billion in 2012, a decrease of 1.29%.
Exports of pharmaceutical products grew from $ 3.21 billion in 2011 to $ 4.23 billion in 2012, an increase of
31.5%.
Exports of lac, gums, and resins grew by 240% from $1.04billion to $ 3.52 billion in 2012.
Exports of mineral fuel, oil grew from $ 3.19 billion in 2011 to $ 3.26 billion in 2012, an increase of 2.3%.
Exports of organic chemicals grew by 9.9% from $ 1.98 billion in 2011 to $ 2.18 billion in 2012.