U.S. Trade with India Continues to Grow
The United States International Trade Commission just released its updated “The Year in Trade 2014” report. The report, which covers global trade trends and activities, indicated that the value of U.S.-India two-way merchandise trade has increased 5% since 2013. In 2014, merchandise exports to India were valued at $21.6 billion. Leading U.S. exports to India included diamonds, aircraft and parts, gold, and coal. 2014 imports from India were valued at $45.2 billion, with non-industrial diamonds, certain medicaments, petroleum-related products, food, apparel, chemicals, and steel products all leading the way. The report went on to say that the U.S. and India continue an ongoing dialogue to improve trade relations going forward.
While these numbers may seem impressive (India is the 11th largest foreign trading partner with the U.S.), some economists forecast that these numbers could double in the next five years. Contributing to this growing trend is the fact that India is the world’s largest democracy and the second-most populous country in the world. The country has a burgeoning urban middle class and has made great strides in fields such as information technology. Its large, skilled workforce makes it a popular choice for international companies seeking to outsource work.
If your company imports or exports merchandise from India, you should consider working with Logistics Plus. In the U.S. we have more than a dozen locations around the country that can help you with your transportation and logistics needs, and our Customs Broker Solutions staff can also help you clear customs for imports at any port in the United States. Additionally, we have six offices in India located in the cities of New Delhi, Bangalore, Chennai, Jalandhar, and Mumbai.
If you’re located in the U.S. and interested in learning more, please contact us or use our international quick quote form if you have an upcoming shipment. You can also call 1.866.564.7587 or email quotes@logisticsplus.com with any questions. If you’re located in India, you can complete our India logistics solutions request form or use our international quick quote form if you have a shipment. You can also call our New Delhi main office at +91.124.474.9200 or email sundreysh.sarup@logisticsplus.com with specific questions.
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