India Trade & Investment Summary
U.S. goods and services trade with India totaled an estimated $191.8 billion in 2022. Exports were $73.0 billion; imports were $118.8 billion. The U.S. goods and services trade deficit with India was $45.7 billion in 2022.
U.S. goods exports to India in 2022 were $47.2 billion, up 17.9 percent ($7.2 billion) from 2021 and up 113 percent from 2012. U.S. goods imports from India totaled $85.5 billion in 2022, up 16.7 percent ($12.2 billion) from 2021, and up 111 percent from 2012. U.S. exports to India account for 2.3 percent of overall U.S. exports in 2022. The U.S. goods trade deficit with India was $38.4 billion in 2022, a 15.2 percent increase ($5.1 billion) over 2021.
U.S. exports of services to India were an estimated $25.9 billion in 2022, 40.0 percent ($7.4 billion) more than 2021, and 131 percent greater than 2012 levels. U.S. imports of services from India were an estimated $33.2 billion in 2022, 14.6 percent ($4.2 billion) more than 2021, and 77 percent greater than 2012 levels. Leading services exports from the U.S. to India were in the travel, intellectual property, and financial services sectors. The United States had a services trade deficit of an estimated $7.4 billion with India in 2022, down 30.0 percent from 2021.
U.S. foreign direct investment (FDI) in India (stock) was $51.6 billion in 2022, a 15.1 percent increase from 2021. U.S. direct investment in India is led by professional, scientific, and technical services, manufacturing, and information services.
India's FDI in the United States (stock) was $3.7 billion in 2022, up 7.0 percent from 2021. India's direct investment in the U.S. is led by professional, scientific, and technical services, manufacturing, and depository institutions.