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U.S.-India Bilateral Trade and Investment

In 2016, India GDP was an estimated $2.3 trillion (current market exchange rates); real GDP was up by an estimated 7.6%; and the population was 1.3 billion. (Source: IMF)

U.S. goods and services trade with India totaled an estimated $109.0 billion in 2015 (latest data available). Exports were $39.6 billion; imports were $69.5 billion. The U.S. goods and services trade deficit with India was $29.9 billion in 2015.

India is currently our 9th largest goods trading partner with $67.7 billion in total (two way) goods trade during 2016. Goods exports totaled $21.7 billion; goods imports totaled $46.0 billion. The U.S. goods trade deficit with India was $24.3 billion in 2016.

Trade in services with India totaled an estimated $42.8 billion in 2015 (latest data available). Services exports totaled $18.1 billion; services imports totaled $24.7 billion. The U.S. services trade deficit with India was $6.6 billion in 2015.

According to the Department of Commerce, U.S. exports of Goods and Services to India supported an estimated 197 thousand jobs in 2015 (latest data available) (82 thousand supported by goods exports and 116 thousand supported by services exports).

Exports

India was the United States' 18th largest goods export market in 2016.

U.S. goods exports to India in 2016 were $21.7 billion, up 1.1% ($237 million) from 2015 and up 124.2% from 2006.  U.S. exports to India account for 1.5% of overall U.S. exports in 2015.

The top export categories (2-digit HS) in 2016 were: precious metal and stone (diamonds) ($7.0 billion), machinery ($2.0 billion), optical and medical instruments ($1.3 billion), mineral fuels ($1.2 billion), and electrical machinery ($1.2 billion).

U.S. total exports of agricultural products to India totaled $1.3 billion in 2016, our 21st largest agricultural export market. Leading domestic export categories include: tree nuts ($522 million), cotton ($250 million), pulses ($144 million), fresh fruit ($72 million), and planting seeds ($32 million).

U.S. exports of services to India were an estimated $18.1 billion in 2015 (latest data available), 19.3% ($2.9 billion) more than 2014, and 247% greater than 2005 levels.  Leading services exports from the U.S. to India were in the travel, transport, and intellectual property (computer software, audio visual and related products) sectors.

Imports

India was the United States' 9th largest supplier of goods imports in 2016.

U.S. goods imports from India totaled $46.0 billion in 2016, up 2.7% ($1.2 billion) from 2015, and up 110.7% from 2006.  U.S. imports from India account for 2.1% of overall U.S. imports in 2015.

The top import categories (2-digit HS) in 2016 were: precious metal and stone (diamonds) ($11 billion), pharmaceuticals ($7.4 billion), mineral fuels ($2.4 billion), miscellaneous textile articles ($2.3 billion), and machinery ($2.1 billion).

U.S. total imports of agricultural products from India totaled $2.1 billion in 2016, our 20th largest supplier of agricultural imports. Leading categories include: spices ($279 million), rice ($158 million), tree nuts ($157 million), essential oils ($151 million), and processed fruit & vegetables ($114 million).

U.S. imports of services from India were an estimated $24.7 billion in 2015 (latest data available), 10.4% ($2.3 billion) more than 2014, and 420% greater than 2005 levels.  Leading services imports from India to the U.S. were in the telecommunications, computer, and information services, travel, and research and development sectors.

Trade Balance

The U.S. goods trade deficit with India was $24.3 billion in 2016, a 4.2% increase ($970 million) over 2015.

The United States has a services trade deficit of an estimated $6.6 billion with India in 2015 (latest data available), up 8.3% from 2014.

Investment

U.S. foreign direct investment (FDI) in India (stock) was $28.3 billion in 2015 (latest data available), a 4.4% increase from 2014. U.S. direct investment in India is led by prof., scientific, and tech. services, manufacturing, and wholesale trade.

India's FDI in the United States (stock) was $9.3 billion in 2015 (latest data available), up 3.7% from 2014. India's direct investment in the U.S. is led by prof., scientific, and tech. services, depository institutions, and manufacturing.

Sales of services in India by majority U.S.-owned affiliates were $22.7 billion in 2014 (latest data available), while sales of services in the United States by majority India-owned firms were $13.4 billion.

 

U.S. Goods and Services Trade with India (in billions of dollars)

 

1995

2000

2006

2012

2013

2014

2015

2016

Total

11.2

19.1

45.1

93.7

97.3

104.4

109.0

NA

Exports

4.6

6.5

16.2

34.4

35.1

36.7

39.6

NA

Imports

6.6

12.6

28.9

59.3

62.2

67.7

69.5

NA

Balance

-2.0

-6.1

-12.7

-24.9

-27.1

-31.0

-29.9

NA

U.S. Goods Trade with India (in billions of dollars)

 

1995

2000

2006

2012

2013

2014

2015

2016

Total

9.0

14.4

31.5

62.6

63.6

66.9

66.2

67.7

Exports

3.3

3.7

9.7

22.1

21.8

21.5

21.5

21.7

Imports

5.7

10.7

21.8

40.5

41.8

45.4

44.8

46.0

Balance

-2.4

-7.0

-12.2

-18.4

-20.0

-23.9

-23.3

-24.3

U.S. Agricultural Trade with India (in billions of dollars)

 

 

 

2006

2012

2013

2014

2015

2016

 

 

Total

1.4

6.2

4.4

4.2

3.9

3.4

 

 

Exports

0.4

0.9

0.9

1.1

1.2

1.3

 

 

Imports

1.0

5.4

3.5

3.2

2.7

2.1

 

 

Balance

-0.7

-4.5

-2.6

-2.1

-1.5

-0.8

U.S. Manufacturing Trade with India (in billions of dollars)

 

 

 

2006

2012

2013

2014

2015

2016

 

 

Total

29.1

57.3

58.8

61.4

60.5

61.9

 

 

Exports

8.5

19.0

19.5

18.9

18.5

18.8

 

 

Imports

20.6

38.4

39.4

42.5

41.9

43.0

 

 

Balance

-12.1

-19.4

-19.9

-23.6

-23.4

-24.2

U.S. Services Trade with India (in billions of dollars)

 

1995

2000

2006

2012

2013

2014

2015

2016

Total

2.2

4.7

13.6

31.1

33.7

37.5

42.8

NA

Exports

1.3

2.8

6.5

12.3

13.3

15.2

18.1

NA

Imports

0.9

1.9

7.1

18.8

20.4

22.4

24.7

NA


*NOTE: Refers to private services trade not including U.S. military sales, direct defense expenditures, and other miscellaneous U.S. government services.