A robust economic relationship – The Hindu
Updated Apr 08, 2021 05:26 am
- Under the , the economic relationship with India can be expected to be on the radar as India has enjoyed bipartisan support in the U.S. A closer economic partnership would bring gains to both sides in terms of GDP, employment, and productivity, given the complementary natures of their economies.
- From the industry perspective, a robust collaborative agenda would rest on a comprehensive set of actions which can take bilateral trade in goods and services to the desired goal of $500 billion. In the five years to 2019, bilateral trade grew at a CAGR of 7.7% per year to $146 billion. If we assume the same rate of growth, the $500 billion target will be achieved by 2036. To ensure this, the CAGR would need to be set at 11.9%. This is doable if the right policy actions are taken. CII has outlined key areas for collaboration.