India’s goods trade surplus with the US also expanded to $22.9 billion in 2017, which is much higher than the total bilateral goods trade of $14.35 billion in 2000. As compared to China-US trade, India-US trade is at an infancy stage with immense potential to grow. The US-India Strategic Partnership Forum estimates that Indo-US bilateral trade has the potential to go beyond $210 billion by 2021. In this context, India-US bilateral trade is poised to receive a quantum jump through the oil and gas trade. Nevertheless, while India should carefully watch the actions of the US, it must convince President Trump that free trade with India is in America’s best interests.

Source: dna May 27, 2018 02:37 UTC