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Union Minister discusses bilateral trade issues with Mr. Marshall
06
Feb '08
Mr. Marshall M. Bouton, President of the Chicago Council on Global Affairs, during his meeting with Shri Kamal Nath, Union Minister of Commerce & Industry, discussed the issues about increasing the bilateral trade and economic cooperation between India and USA.

During the interactions, both sides agreed that there is lot of potential in both the countries and there are so many untapped areas to be concentrated, particularly in the small and medium enterprises (SMEs).

USA ranks second and cumulative FDI inflows from USA is US $ 6.35 billion (9.79%) till October, 2007. Top sectors attracting FDI inflows (from January 2000 to October 2007) from USA are Computer software & Hardware (20.45%), Services Sector (financial & non-financial) (19.92%), Automobile Industry (7.50%), Consultancy Services (6.36%), and Construction Activities (4.82%). USA has been granted 1,754 technical collaborations (22.21% of the total) since, 1991.

USA is India's largest trading partner. The total trade in merchandise and commodities during 2005-06 was US $ 24.9 billion achieving a growth of 20.2% over that of previous year. During the period 2006-07, India's total trade with USA was US $ 30.59 billion.

Exports and imports were US $18.86 billion and US $ 11.73 billion respectively. Indian exports were US $18.86 billion while Indian imports were US $11.73 billion, giving a trade surplus of US $ 7.13 billion for India in 2006-07. Exports to USA from India constitute about 16.83% of India's total exports.

The Chicago Council on Global Affairs, founded in 1922 as The Chicago Council on Foreign Relations, has been a pre-eminent forum in Chicago and the Midwest for the discussion of world affairs and U.S. foreign policy since its inception.

It is a leading independent, nonpartisan organization committed to influencing the discourse on global issues through contributions to opinion and policy formation, leadership dialogue, and public learning.

Press Information Bureau Government of India

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