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Indian-American trade relations in 4 graphics
The trade relations between India and the USA are complex and multi-layered. We analyze the current status and future opportunities in four clear graphics.
Indian-American trade relations in 4 graphics
Although India has so far been spared from the Trump administration's new tariffs, Trump recently announced that counter tariffs could be imposed on countries that impose tariffs on US goods, which would include India. Meanwhile, India may seek to avoid such tariffs as the country has reviewed its trade policies to encourage additional trade with the US, according to several Reuters -Reports suggest.
Current trade relations between the USA and India
US trade policy has been under scrutiny since it imposed tariffs on the country's three largest trading partners. President Donald Trump plans further, more comprehensive tariffs in the coming days. With Prime Minister Narendra Modi expected at the White House later this week, a look at trade ties between the two countries will be on the agenda.
Where are things?
As of 2024, the US is India's largest trading partner, while India ranks tenth on the list of US trading partners in the same year. Bilateral trade between the United States and the world's most populous country reached a record $129.2 billion in 2024.
With Trump planning to impose 25% tariffs on its two main trading partners, Mexico and Canada, and already imposing 10% tariffs on Chinese goods, say Experts, that India could benefit from these strained trade relations by increasing exports of technology, electronics and jewelry to the US.
US-India trade deficit
The trade deficit between the US and India has widened. In 2024, the US imported $45.7 billion more from India than it exported there. Loud US import data Imports from India accounted for about 2.7% of all imported goods last year.
Trump has public Modi's penchant for tariffs has been discussed, but there are signs the Southeast Asian country is open to easing tariffs. Earlier this month, India's finance minister cut the import duties on motorcycles, which benefits the American company Harley Davidson.
The movement of goods between the USA and India
The US's main imports from India include pearls, semi-precious stones, pharmaceutical products and electrical equipment. In 2023, the import of the top five products exported from India to the US was more than $47 billion.
Modi is expected in Washington on Wednesday and Thursday this week, February 12 and 13. The two heads of state had on January 27th, seven days after Trump's inauguration, a phone conversation in which she above expanding cooperation, security in the Indo-Pacific and the importance of India's increased purchases of US security equipment.