5 Big Ideas for the Biden Administration
Elevating the U.S.-India Trade and Economic Relationship
The U.S.-India Business Council (USIBC) and the U.S. Chamber of Commerce welcome President Joseph Biden and Vice President Kamala Harris and look forward to collaborating with the new administration. Under their leadership, we expect continued growth in the U.S.-India commercial relationship. The United States and India share a common set of values, robust democratic systems, and cultures of entrepreneurship, as well as longstanding people-to-people ties that make our countries natural partners. As leaders around the globe reevaluate global trade and investment ties, the United States and India can and should do more to achieve the shared goal of $500 billion in two-way trade.
The U.S.-India commercial relationship has seen fast-paced growth over the past decade, with bilateral goods and services trade growing 12.6 percent in 2019 to reach $146.1 billion. Still, the relationship holds significant untapped potential. Business-friendly policies can unlock upwards of $150 billion in new trade over the next four years, as resolution of regulatory issues for both U.S. and Indian companies opens the door for more expansive growth.
USIBC stands ready to support the Biden administration on work to develop the economic policies that will transform our economies and create millions of high-quality jobs at home and abroad. On behalf of the USIBC Board of Directors and our member companies, USIBC recommends the administration consider the following “5 Big Ideas” as it charts a way forward on one of the country’s most important bilateral relationships: the U.S.-India partnership.