This week USA-India trade grew to US$87 billion, as the demand from India for USA crude oil, LNG and coal took a big leap – energy imports from the USA have been around US$7 billion but this year will reach $10 billion.
Australia-India trade sits at around A$30 billion with Aussie exports of goods and services reaching $21 billion. While it could do better, compared to global data perhaps Australia is OK.
India’s top imports continue to be Crude Petroleum, gold, diamonds coal briquettes.
India’s main exports include rice, mica, orthopaedic devices, spices, jewellery and garments.
Both USA and Australia attract thousands of Indian university students and education has become a key segment of two-way trade – perhaps the future for it is “more two way”?