India-US trade dips 23.

47% in Jan-Mar 2009

Press Trust of India / Washington/ New Delhi May 13, 2009, 15:34 IST

India's trade with recession-hit US dropped 23.47 per cent to $8.2 billion in January-March 2009, although
exports of select items such as steel and apparels showed growth during the period.

Overall exports, however, fell by 22.63 per cent to $5.22 billion in the the first quarter of the American financial
year as arrivals of natural pearls, precious and semiprecious stones and pharmaceutical products declined.

Exports in the same period last year were $6.75 billion, according to data released by the US International Trade
Commission.

India's imports dipped by 24.9 per cent to $2.96 billion in the first three months of 2009 over $3.94 billion in the
year-ago period.

Trade between the two countries during January-March 2008 was $10.69 billion.

The Federation of Indian Export Organisations (FIEO) said the figures suggest that the US economy is still in
recession and could start picking up in the first quarter of 2010.

"It (India-US trade) is in line with global change. The recession is worldwide and it cannot be decoupled," FIEO
Director General Ajay Sahai said.

However, India's exports of iron and steel increased to $476.3 million from $430.9 million in the first quarter of
2009. Similarly, consignments of organic chemicals, apparels and clothing accessories showed improvement.

As far as India's imports from the US are concerned, aircraft, spacecraft and parts were the worst affected.
Shipments of these items fell to $297.6 million in January-March 2009 from $1.2 billion in the same period last
year.

In 2008, India's exports to the US were $25.86 billion while imports were $17.33 billion.

The US accounted for about 12 per cent of India's total exports of $168.7 billion in Indian financial year 2008-09.

For Immediate Release: November 23, 2009

Contact: Tim Truman  (202) 482-3809
UNITED STATES AND INDIA AGREE TO
ENHANCED PROMOTION OF FOREIGN INVESTMENT
 
WASHINGTON – Foreign direct investment has been proven to positively contribute to economic
growth. Today, the United States and India signed a memorandum of intent to collaborate on the
promotion of investment in both countries.
The MOI, signed by Acting Under Secretary of Commerce for International Trade Michelle O’Neill
and Indian Secretary of Department of Industrial Policy and Promotion Ajay Shankar, commits the
U.S. and Indian governments to undertake relevant activities through their respective Invest in
America and Invest India programs that are designed to strengthen bilateral investment ties,
expand business cooperation between U.S. and Indian enterprises, and enhance economic growth
opportunities. 
“We’re very pleased that we are able to enter into this partnership with India during Prime Minister
Singh’s visit,” O’Neill said. “Today’s agreement will enhance promotion of foreign direct investment
 that leads to increased exports of our manufactured goods and services, playing an integral role in
getting Americans back to work.”
The MOI calls for both Invest in America and Invest India to be central points of contact for
existing and potential foreign investors who seek opportunities for investment; to exchange
information on investment promotion activities and services, to provide information about policies
related to direct investment, to share data on bilateral investment flows, and to assist visiting
investors from one country in contacting investment and industry experts in the other country.
U.S. subsidiaries of foreign firms employ more than five million workers in the United States, pay
on average 25 percent higher wages and salaries than U.S. establishments (totaling over $350
billion in wages in 2006), and generate nearly 20 percent of all U.S. exports.

India, US plan to remove trade, investment irritants

New Delhi, Oct. 26 2009 India and the US on Monday agreed to work in concert to evolve a framework for
promoting real and meaningful cooperation in trade and investment which would address mutual irritants
impeding the bilateral economic engagement.

Addressing a press conference here to announce the outcome of the India-US Trade Policy Forum meeting held
here, the Union Commerce and Industry Minister, Mr Anand Sharma, said that such a framework agreement
would be signed “very soon” without indicating the timeline.

The Minister said that the US has given last week a draft framework report on this and the Commerce Secretary
would be sending India’s response soon on that.

Mr Sharma said that there would be another such agreement on intellectual property rights (IPRs) including
traditional knowledge.

Mr Sharma said that the US raised concerns on India’s IPRs record and a presentation was made to the experts
on India’s ‘strong’ institutional machinery not only in tracking violators but also punishing them as such violations
of patents and copyrights hit the domestic industry too. He said the US appreciated India’s action on this score.

He said both sides also agreed to work together to support greater involvement of small and medium enterprises
in each others markets and to pursue initiatives in the further development of India’s infrastructure, collaboration
on clean energy and environmental services, information and communications technologies and other key
sectors.

To a specific question about grant of H1B visas to Indian techies, Mr Sharma said the issue cropped up both at
the official and ministerial meeting and it was impressed upon the US that the India IT industry had not only
infused capital but also generated employment in the US and that any step that discourages India’s IT sector
would also hurt the US. The US side acknowledged this fact and assured “positive” stance on the information,
communication and technology (ICT) sector.

Mr Sharma said that today’s meeting, convened after a gap of 20 months, would act as “a catalyst for regular
engagement” and it was agreed that the Commerce Secretary and the Deputy USTR as deputy chairs would
meet twice a year to resolve outstanding bilateral issues.

Earlier, addressing a news conference, the US Trade Representative, Mr Ron Kirk, said the US has sought a
more liberal environment for US investments into India. “We would also like to see more improvement and
openness in the investment environment for US businesses in India.”

He said that he had discussed with Mr Sharma ways and means to improve trade and investment in
infrastructure, healthcare, education, information technology and energy. Mr Kirk also sought a greater market
access for US in goods and services segment and financial services segment in particular.
He said both sides held a “productive” discussion on bilateral issues governing trade and investment.

Trade with India : 2009

NOTE: All figures are in millions of U.S. dollars, and not seasonally adjusted unless
otherwise specified.
Month Exports Imports Balance
January 2009 1,138.4 1,830.4 -692.0
February 2009 1,044.8 1,580.7 -535.9
March 2009 1,126.4 1,771.8 -645.4
April 2009 1,270.5 1,768.8 -498.3
May 2009 1,506.1 1,611.8 -105.7
June 2009 1,397.7 1,568.9 -171.2
July 2009 1,681.4 1,819.3 -137.9
August 2009 1,666.1 1,647.3 18.8
September 2009 1,640.2 2,069.8 -429.7
TOTAL 12,471.7 15,669.0 -3,197.3

 'TOTAL' may not add due to rounding.

 Table reflects only those months for which there was trade.
 CONTACT: Data Dissemination Branch, U.S. Census Bureau, (301) 763-2311
 SOURCE: U.S. Census Bureau, Foreign Trade Division, Data Dissemination Branch,
Washington, D.C. 20233
Trade with India : 2008
NOTE: All figures are in millions of U.S. dollars, and not seasonally adjusted unless
otherwise specified.
Month Exports Imports Balance
January 2008 1,046.6 2,275.6 1,229.0
February 2008 1,226.2 2,103.6 877.3
March 2008 1,446.0 2,251.2 805.2
April 2008 1,104.6 2,127.1 1,022.5
May 2008 1,444.1 2,183.9 739.9
June 2008 1,828.3 1,877.4 49.1
July 2008 1,823.7 2,066.1 242.4
August 2008 1,863.9 2,222.6 358.7
September 2008 2,030.9 2,393.6 362.7
October 2008 1,640.4 2,441.8 801.4
November 2008 1,204.4 1,914.2 709.8
December 2008 1,023.0 1,847.4 824.4
TOTAL 17,682.1 25,704.4 -8,022.3

 'TOTAL' may not add due to rounding.

 Table reflects only those months for which there was trade.
 CONTACT: Data Dissemination Branch, U.S. Census Bureau, (301) 763-2311
 SOURCE: U.S. Census Bureau, Foreign Trade Division, Data Dissemination Branch,
Washington, D.C. 20233

Trade with India : 2007

NOTE: All figures are in millions of U.S. dollars, and not seasonally adjusted unless
otherwise specified.
Month Exports Imports Balance
January 2007 897.7 1,992.2 -1,094.6
February 2007 834.3 1,698.2 -863.9
March 2007 924.6 2,133.2 -1,208.6
April 2007 772.8 1,983.5 -1,210.7
May 2007 1,199.1 1,992.9 -793.8
June 2007 1,060.7 1,902.4 -841.7
July 2007 1,742.2 1,779.9 -37.7
August 2007 1,597.3 2,180.3 -583.0
September 2007 1,468.6 1,928.1 -459.5
October 2007 1,630.3 2,404.1 -773.9
November 2007 1,387.1 2,207.0 -819.8
December 2007 1,454.2 1,871.4 -417.3
TOTAL 14,968.8 24,073.3 -9,104.4

 'TOTAL' may not add due to rounding.

 Table reflects only those months for which there was trade.
 CONTACT: Data Dissemination Branch, U.S. Census Bureau, (301) 763-2311
 SOURCE: U.S. Census Bureau, Foreign Trade Division, Data Dissemination Branch,
Washington, D.C. 20233