US ambassador to India Richard Verma says bilateral trade touched $109 billion in 2015, which made the US India’s largest trade partner. Photo: HTNew Delhi: The India-US economic partnership is “a really good story” but there is scope for improvement with instruments such as a bilateral investment treaty going a long way to boost trade to the targeted $500 billion mark, US ambassador to India Richard Verma said on Wednesday. Bilateral trade touched $109 billion in 2015, which made the US India’s largest trade partner, Verma said at the 12th India-US Economic Summit in New Delhi. Secondly, the governments need to do more to boost investor confidence and remove the remaining impediments to two-way trade. Ease of travel was another factor which would help business, Verma said, adding that the US had issued 1.1 million visas to Indians last year, which had been a 20% increase from a year earlier.

Source: Mint September 14, 2016 15:45 UTC