WASHINGTON - Despite
American concern over trading with India due to
heightened tensions in the subcontinent, merchandise
exports from India to the US has risen by 21.4 percent
in 2002 to US$11.82 billion, the highest in the past
decade, the US Commerce Department said.
"This
strong performance reflects the highest annual
percentage growth in Indian exports to US over the past
decade," an Indian embassy release said. "It is
particularly noteworthy as it has occurred against a
backdrop of lackluster growth in worldwide exports to
USA in 2002, and despite concerns over trading with
India due to heightened tensions in the subcontinent and
travel advisories against visiting India that were
briefly in place during mid 2002," it said.
India has emerged as the 19th largest
merchandise exporter to US in 2002 (up from 22nd
position in 2001) with a 1.02 percent share of total US
imports (up from a 0.86 percent share in 2001).
"Year 2002 marks the first year that India has
entered the list of top 20 countries exporting to USA;
it is also the first time that India's exports to USA
have exceeded one per cent of US merchandise imports,"
the Commerce Department said.
"It also marks the
first time in recent years that the rate of growth of
Indian merchandise exports to USA (21.4 percent) has
outpaced the rate of growth in our India's services
exports to USA (20 percent).
Growth has been
more or less across the board for major Indian export.
Nine of the top 10 items that India exports to the US
witnessed growth, the release said.
India is now
the number one exporter to the US of small and
medium-sized diamonds ($2.6 billion), knotted and woven
carpets ($384 million), linen ($366 million),
large/medium sized frozen shrimp with shell on ($220
million), cashewnuts ($213 million), antibiotics ($138
million ), woven silk fabrics ($85 million), pepper ($32
million), opium ($31 million, guargum ($23 million),
psyllium seed husk ($22 million), woven jute fabrics
($14 million) and niger seed ($10 million).
During 2002, worldwide merchandise exports from
the US dipped by 4.9 percent compared to 2001, declining
to 21 of the top 30 US export destinations. It grew to
only nine among them, including to India. Growth in the
US exports to India was 9.1 percent and is particularly
commendable when viewed against the backdrop of a 4.9
percent decline in overall US exports.
