India and the United States of America (‘US’) have always shared a long-standing and cordial trade relation, whereby both nations have viewed each other as important strategic partners for the advancement of common interests. This is evidenced primarily by two reports, first being the US Congressional Research Service (CRS) report dated December 23, 2020, which showcased that US bilateral trade with India accounts for about 3% of the total US world trade and the second being the United States Trade Representative (‘USTR’) report dated January 2021, which stated that the overall US-India bilateral trade in goods and services reached $149 billion in 2019.
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