India Inc in February said that trade and investment relations between India and the US have received a major boost with the visit of President Donald Trump. Industry body Assocham’s Secretary General Deepak Sood said the two-way engagement of about $160 billion can be doubled within the next 4-5 years. “With a rising economy and aspiration of 1.3 billion people, India has emerged as a key and strategic partner for the US even as the US remains the most important and promising destination for Indian exports of goods and services. President Trump aptly described India as a ‘tremendous market’,” Sood said.

Similarly, PHD Chamber of Commerce and Industry’s President D.K. Aggarwal said that both the countries have significant potential to enhance trade and investment trajectory between the two economies. Based on strong complementarities and growth prospects, the bilateral merchandise trade between India and the US is likely to cross $100 billion by FY2021, Aggarwal said. “There is a need to outline the contours for a sustainable trade negotiation between the two countries which is broad based and encompasses wide ranging potential sectors of development,” Aggarwal was quoted as saying in a statement.