Bilateral trade and investments flows remain a small fraction of the U.S.-China level, and China recently eclipsed the United States as India’s top trading partner. Overall, India is still only the 12th largest trading partner for the United States and it remains a comparatively minor destination for U.S. investment flows.
Still, the striking record of bilateral engagement in the innovation economy sectors offers an especially promising foundation on which to build for the future. The high-tech sector plays a critical – and largely complementary – role in the economies of both nations, and the United States has been a prominent factor in the spectacular development of the Indian IT sector. Yet overall bilateral trade in advanced technology products is surprisingly low and important synergies remain untapped.
Given this, Secretary Bryson should use his time in New Delhi to launch a bilateral effort aimed at further liberalizing trade and deepening engagement in the IT field or, even more one that covers the entire range of advanced technology products and services.
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