Examining India-US Trade Ties Before PM Modi’s Washington Visit

Introduction

As Indian Prime Minister Narendra Modi prepares for his visit to Washington, the spotlight is on the evolving trade relationship between India and the United States. This visit is pivotal in addressing existing trade challenges and exploring new opportunities for collaboration.

Current Trade Landscape

• Trade Volume: The bilateral trade between India and the US has seen significant growth, reaching approximately $146 billion in 2022.
• Key Sectors: Major sectors include information technology, pharmaceuticals, and textiles from India, while the US exports machinery, aircraft, and agricultural products.

Challenges and Opportunities

• Tariff Disputes: Both nations have faced tariff-related tensions, impacting sectors like steel and aluminum.
• Intellectual Property Rights: Differences in IP regulations have been a point of contention.
• Potential Collaborations: Opportunities exist in sectors like renewable energy, digital technology, and defense.

Conclusion

PM Modi’s visit to Washington is a crucial moment for India-US trade relations. By addressing existing challenges and leveraging new opportunities, both nations can strengthen their economic partnership, benefiting from mutual growth and innovation.

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