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The plan to take trade relations between India and America to new heights is now being tested by ground reality. India’s promise to import $500 billion from America in the next five years will depend not only on the purchasing capacity of Indian companies, but also on how quickly American suppliers are able to meet this demand.

Statistics show that India-US trade is already gaining momentum. In the last financial year, India had imported 45.5 billion dollars from America, whereas in the first nine months of the current financial year itself, this figure has reached about 40 billion dollars. The biggest share in this has been from the energy sector, which has made the direction of the future clear.

What is India importing the most from America?

According to government data, out of the total imports made by India from America in the first nine months of the current financial year, about $ 11 billion was only from American crude oil and petroleum products. This import is 35 percent more than the same period of the last financial year. Apart from this, the import figure of coal and coke has also reached 2.7 billion dollars, which is an indication that America is becoming an important partner for India in the field of energy and raw materials.

In which sectors will American imports increase immediately?

According to government officials, oil, gas and coal are the sectors where immediate increase in imports can be seen. The reason for this is that India is now considering giving priority to American oil instead of importing oil from some other countries. In which Russia can also be included. Along with this, Indian oil companies have already signed agreements to buy more LNG (Liquefied Natural Gas) from the US.

Will American coal replace Indonesian coal?

A senior government official said that India may give preference to American coal instead of coking coal imported from Indonesia. According to him, American coal is not only cheaper, but its quality is also considered better. The steel and energy sectors can directly benefit from this.

When will the $100 billion import target be possible?

The government believes that it will not be possible to increase imports from America to 100 billion dollars in the first year itself, but the direction will remain in the same direction. According to a senior official, it is not possible for the import figure to reach $100 billion in the very first year, but it will gradually move in that direction. ‘That means the increase in imports will be gradual, but the goal is clear.

What did Piyush Goyal say about imports?

Union Commerce and Industry Minister Piyush Goyal made it clear that the responsibility of increasing imports lies more on Indian importers and American sellers than on the government. He said that they will have to make such an offer which Indian buyers cannot refuse. According to Goyal, high-tech products like chips, semiconductors, aircraft and their parts will play an important role in achieving the India-US import target. However, the path to this big import target is not easy. The biggest challenge for Indian buyers is the capacity of American suppliers.

For example, companies like Boeing are already burdened with aircraft orders, making timely delivery a question. At the same time, the global demand for semiconductor chips is so high that India may also have to wait in this race. Experts believe that India’s intentions are strong and the demand is also present, but to achieve this goal, the speed of the American supply chain, production capacity and global conditions will play a decisive role.