The Indo-US trade has notably gone up to $162 billion in 2019 from $142 billion in 2018. This is due to the sudden increase in energy import by New Delhi. Mukesh Aghi, the President of US Indian Strategic Partnership Forum believes that the energy supply-demand has suddenly shot up, especially from New Delhi, which in turn has led to this leap in the trade prices. Therefore, he believes that the bilateral trade between the two countries is leaning favourably towards Washington.
In his statement, he also said that the bilateral trade numbers were going up without the trade deal and when costly items like Boeing planes were not being delivered. Spice Jet one of India’s private airlines placed an order for 200 new Boeings. He believes that once these deliverables are sent the trade numbers would go up significantly. Even after the US revoked India’s GPS privileges the export sector did not take a hit. It went up by 5%.
The impetus of the trade continues as both countries are having disagreements, but it is believed that they will be able to negotiate and sum up a conclusion, that benefits both nations. Mr.Aghi is hoping for more mature responses from both the nations as time goes by.
It is believed that the energy sector- ranging from gas, LNG and high-quality coal will be taking the lead in the bilateral trade. “From the U.S. side, scientific products, energy, planes and defence will keep on fuelling the growth,” said Mr. Aghi