‘US concerned over trade deficit with India’
New Delhi: The US expressed concern over the trade deficit with India and the challenges being faced by American companies to invest here.
Addressing the Indo-US Economic Summit here, US Minister Counselor for Commercial Affairs Aileen Nandi however hoped to explore possibilities at the US-India Business CEO Forum to strike a trade balance between the two countries.
As per the Indian government data, India’s exports to the US during 2018-19 were worth about USD 52.4 billion while imports bill stood at USD 35.55 billion. The US trade deficit with India during 2018-19 stood at USD 16.85 billion, lower than USD 21.26 billion in the preceding year, the data showed.