According to the Embassy of India, U.S.-India bilateral trade has increased by an astounding 1,037.5 percent over the past 23 years and totaled $63.7 billion in 2013. I would also echo the views of the Embassy that the bilateral trade and commercial relationship is a "crucial component" of the dynamic and growing overall relationship between our two countries. Indeed, there are significant opportunities to strengthening the commercial and economic relationship by lowering barriers to trade and investment.
The month of May is “World Trade Month” and an appropriate time to reflect on how international trade benefits the United States. With a number of trade agreements under negotiation and some close to being concluded, the United States has a busy trade agenda this year, and that is a good thing for our continued economic growth, job creation, and global competitiveness
As part of a large U.S. industry delegation representing a broad array of ICT manufacturers, TIA is in Geneva, Switzerland this week to cheer on the trade negotiators who are working hard to conclude the negotiations to expand the product coverage of the WTO’s Information Technology Agreement (ITA). The ITA remains one of the most commercially important WTO trade agreements – by eliminating tariffs on a broad range of ICT products, the ITA lowers the cost and improves access to these products, which are vital to the economic competitiveness of all economies around the world.