'Indo-US trade to surpass USD 145 bn in 2021'

The US remains India's biggest trading partner and largest export market with trade exploding from approximately $20 billion in 2001 to just over $145 billion in 2019 notwithstanding the pandemic taking a toll on trade, said US Consul General Judith Ravin.

She was addressing members of the US India Business Council after Karnataka IT Minister C.N. Ashwath Narayan opened the India-US Tech Conclave on Wednesday night at the 'Bengaluru Tech Summit-2021'.Judith Ravin, participating in the conclave which has been a new initiative under BTS. said the growth in Indo-US economic ties had been extraordinary and the 2021 data indicate a strong rebound.

She said if it continues, the countries would be on track to exceed 2019 numbers. In addition, she said, the US companies continue to be the biggest source of foreign direct investment, fueling continued growth in India.