India-US Trade Will Reach $50 Billion this Fiscal

For the longest time we have heard about China-US trade, however right behind China is India lurking in the shadows ready to pounce at the smallest of opportunities. India-US trade is expected to grow considerably reaching $50 Billion by the end of this fiscal year. By March of 2011 bilateral trade between the two countries is expected to increase by at least 30 percent and reaching the magical sum of $50 Billion.

Informational technology, pharmaceuticals, and manufacturing sector account for about 60 percent of the trade relationship between the two. Trade is growing on both sides, according to the Indian Chamber of Commerce and Industry Indian foreign direct investment has been growing fast in the United States, creating about 65,000 jobs in greenfield projects and by means of mergers and acquisitions.

India is already the second fastest growing investor in the US, right after the United Arab Emirates. In my opinion it will be very interesting to see how far India-US trade relations will go; but on the other hand Indians are known to be very accommodating to foreigners. With all this being said I hope India does not relinquish its control to the number 1 world power, also known as the United States of America. (Stay Tuned)