India-US trade in goods and services registers 12.6% growth in 2018

Last Updated: Sat, May 11, 2019 19:06 hrs
Export Container (Image Courtesy: Wikimedia Commons)

New Delhi: Bilateral trade between India and the United States in goods and services grew 12.6 per cent from USD 126 billion in 2017 to USD 142 billion in 2018, according to an official release.

The growth in trade was welcomed by both the countries, which held a bilateral meeting here on May 6. The Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, along with the US Secretary of Commerce, Wilbur Ross, co-chaired the meeting.

Both the sides appreciated the "strong, robust and growing bilateral ties between India and the US across the entire spectrum of trade and commerce," as per an official press release.

Apart from this, the two countries discussed various outstanding trade issues, agreeing to regularly engage on various levels to resolve them.

"Both sides agreed to deepen economic cooperation and bilateral trade by ensuring greater cooperation amongst stakeholders, including Government, businesses and entrepreneurs," the release said.

They also commended a string of other bilateral initiatives, including the private sector-led US-India SME Forum, which was held in New Delhi on Monday.