A Comprehensive Evaluation of Import and Export Dynamics between India and the USA: Trends, Challenges, and Future Prospects

The economic relationship between India and the USA has grown significantly over the past few decades, making the USA one of India's largest trading partners. This study evaluates the trends, patterns, and determinants of bilateral trade between the two nations from 2010 to 2023. Using secondary data from the Ministry of Commerce (India), the US International Trade Commission (USITC), and the World Bank, the research analyzes key export and import commodities, trade balances, and policy impacts. The findings reveal that India primarily exports pharmaceuticals, textiles, and IT services while importing machinery, petroleum products, and aerospace equipment from the USA. Despite a consistent trade surplus in services, India faces a trade deficit in merchandise trade with the USA. The study identifies key challenges such as tariff barriers, regulatory differences, and geopolitical influences affecting trade relations. Based on the analysis, the paper recommends policy adjustments, enhanced trade agreements, and sector-specific collaborations to strengthen economic ties. The study contributes to understanding Indo-US trade dynamics and provides insights for policymakers and businesses.