United States, 21st January 2022: The new President of the US-India Business Council (USIBC), Atul Keshap, said that there was significant progress in the relationship between the US and India. Big targets will be set to take them to a new level and achieve the ambitious target of $ 500 billion in bilateral trade.

In an interview with PTI, Atul Keshap said, “It is necessary to show that the US and India can be drivers of global growth, models of prosperity and growth in the 21st century.”

He further added, “There is a need to move forward on the global business agenda. We have to ensure future prosperity, especially after this global pandemic.”

Notably, Atul Keshap served in various positions in the State Department during his stay as a US diplomat. Last year he served as Consulate-In-Charge at the US mission in India and played a crucial role in shaping Indo-US relations in the first year of the Biden administration.

According to Commerce Ministry data, the total bilateral trade between India and the US in 2020-21 was $ 80.5 billion. In the year 2019-20, it was $ 88.9 billion. The base of international trade has diverted from Europe and the United States to Southeast Asia. The target is to touch $400 billion for the current financial year. So far, the country’s exports in the first nine months have stood at US$ 301.38 billion. In December 2021, exports stood at USD 37.8 billion, the highest in any month. There was a fear that COVID-19 would lead to a sharp decline in foreign trade but this did not happen.