Indo-US trade to cross $100 billion

Trade between the United States and India is soon expected to cross $ 100 billion, according to James Golsen, principal commercial officer - south India, US Commercial Service.

The total goods trade between the countries in 2013 stood at $ 63.7 billion.

Addressing a seminar on 'Doing Business with US' at the Federation Andhra Pradesh Chambers of Commerce and Industry hereon Monday, Golsen pointed out that last year India was ranked 11th highest trading partner of the US.

Stating that India was the eighth fastest growing source of foreign direct investment into the US at $ 8.9 billion in 2012, he said Indian firms had announced 297 investment projects between January 2003 and June 2013.

Golsen said the US Commercial Service would help Indian companies to explore investment opportunities in the US, meet suppliers and partners and participate in trade shows.