A joint statement of US President Donald Trump and Prime Minister Narendra Modi announced the trade between the two countries to be taken up to $ 500 billion by 2030.
India’s total exports of $ 120 billion
To achieve this goal, the two countries will make bilateral trade agreement this year. That is, in the next five years, the trade of both countries will increase by $ 310 billion as now there is a trade of $ 190 billion between the two countries, including goods and service. Among them, India’s total exports are $ 120 billion.
Earlier in Trump’s first term, a mini trade deal between India and America was started and a large extent was agreed between the two countries, but after the election of Trump, the deal was in cold storage. Was gone
According to Ajay Sahay, Director and CEO of Federation of Indian Export Organizations (Fio), talks will begin again on this mini trade deal which is very important for India. Experts consider this deal to be quite important given the US stressful trading relations with China.
Products like Garment, Footwear, James and Jewelery of India
Experts say that America would like to sell items like crude oil, gas weapons in India and in return, India’s garment, footwear, gems and jewelery, toys, handicrafts can make their doors bigger because America can increase its door because America It mainly depends on China.
If there is a trade deal, Indian products will become much cheaper in the US market compared to China, which will increase their demand. Anyway, the US has announced a separate fee of 10 percent on China’s goods.
Export of Indian goods may increase in America
If the export of Indian goods in the US increases, then the credibility of Indian goods will increase around the world, which will support our total exports. Experts say that Indian companies have started being questioned for such items in America.
