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India and United States enjoy a comprehensive global strategic partnership covering almost all areas of human endeavour, driven by shared democratic values, convergence of interests on a range of issues, and vibrant people-to-people contacts.

The rapidly expanding trade and commercial linkages form an important component of the multi-faceted partnership between India and the United States. The U.S. is India’s second largest trading partner and a major destination for our exports of goods and services. Bilateral trade in goods and services stood at US$ 146 billion in 2019.

About 4.4 million Indian Americans/Indian origin people reside in the US. Persons of Indian origin (3.18 million) constitute the third largest Asian ethnic group in the US. There are many Indian American community organizations and professional organizations of Indian Americans. Indian Americans are one of the most successful communities and excel in diverse fields, including politics. The Indian diaspora has been a catalyst in cementing closer ties between India and the U.S. There are five persons of Indian origin in the U.S. Congress.

USA is India’s largest trading partner with bilateral trade in goods and services crossing US$ 191 billion in 2022. In 2022 bilateral merchandise trade reached US$ 133 billion and services trade reached around US$ 58 billion (Source: US Census data).

During 2022-23, US was the third largest source of FDI into India with inflows of US$ 6.04 billion accounting for almost 9% of total FDI equity inflows. Many Indian companies are investing in the US and adding value. According to a study released in April 2023 163 Indian companies invested over $40 billion in the US and created over 425,000 direct jobs.

An Investment Incentive Agreement between our Ministry of Finance and U.S. International Development Finance Cooperation [DFC] was signed in 2022 to enable equity investment, co-insurance, grants, feasibility studies, and technical assistance. As of March 2023, DFC’s India portfolio stood at more than $3.1 billion across 100+ projects.