Indo-US trade could jump to $500 billion by 2023-24 from about USD 142 billion at present, the Indo-American Chamber of Commerce (IACC) said.
Director General of US and Foreign Commercial Service, Department of Commerce, Ian Steff, said, "Whether it is e-commerce issues or high tariffs, these are issues that threaten to slow down the trade relationship that we intend to build. This is something that we need to take care of. I think, we can do so together."
Asked whether trade issues with the US and China could rebalance commerce in favour of India, IACC president S K Sarkar said, "India is not in a position to replace China, both in terms of quality and capacity. But it is a good signal... as we hear 200 companies will come out of China and invest in India."
Sarkar also expects medical equipment imports to India to become cheaper by the end of this month.