Increasing economic ties between India, US to help boost exports: Exporters

Increasing economic ties between India and the US would help boost the country's exports to America, according to exporters.

The economic ties have received a push from Prime Minister Narendra Modi's recent visit to the US, Apparel Export Promotion Council (AEPC) Chairman Naren Goenka said in a statement.

"India's share in US's ready-made garment import from the world has increased to 5.7 per cent in 2022, which will further improve in future," he said.

The apparel export to the US from India in 2022 has also increased to USD 6 billion, registering a growth of 33.7 per cent as compared to 2021, Goenka said.

The Federation of Indian Export Organisations (FIEO) too said that the US and India have agreed to enhance the bilateral trade to USD 500 billion by 2030.

"Settlement of the six trade disputes bilaterally will create a congenial environment to foster our trade relations. Withdrawal of additional duty on steel & aluminium will push their exports in to US market ," it said.