US India trade hit $238.6 billion in 2023, yet the goods side already leaves a $46.9 billion deficit for the United States. One month can feel like a flip of fortunes when you compare $40.5 billion of US goods exports to India with $87.4 billion imported from India. From pharma and IT services to gems, machinery, and petroleum, the same bilateral relationship looks very different depending on the product line and the year’s totals.
Key Takeaways
- US goods exports to India totaled $40.5 billion in 2023.
- Indian exports of pharmaceuticals to US were $10.4 billion in 2023.
- India exported $8.2 billion worth of gems and jewelry to US in FY23.
- US goods imports from India were $87.4 billion in 2023.
- US aircraft exports to India: $8.9 billion in 2023.
- Precious stones and metals from US to India: $5.6 billion FY23.
- Pharmaceuticals account for 12% of India’s exports to US in 2023.
- IT and BPM services comprise 55% of India’s exports to US FY23.
- Gems and jewelry: 8% of total Indian exports to US in 2023.
- In 2023, total US goods trade with India was $127.9 billion, up 3.5% from 2022.
- Bilateral merchandise trade between India and US reached $120.3 billion in FY 2022-23.
- US-India two-way goods trade volume stood at $191 billion in 2022 including services.
- US-India goods trade deficit for US was $46.9 billion in 2023.
- India’s trade surplus with US stood at $36.8 billion in FY23.
- US cumulative trade deficit with India: $400 billion since 2000.
In 2023, US goods imports from India hit $87.4 billion as bilateral trade totaled $127.9 billion.
Related reading
01 · Category
Exports India to US30 stats
01
US goods exports to India totaled $40.5 billion in 2023.
02
Indian exports of pharmaceuticals to US were $10.4 billion in 2023.
03
India exported $8.2 billion worth of gems and jewelry to US in FY23.
04
US imports of Indian textiles and apparel reached $5.6 billion in 2023.
05
Indian petroleum products exports to US hit $7.1 billion in 2023.
06
India’s electrical machinery exports to US were $6.3 billion in 2022.
07
Organic chemicals from India to US valued at $4.2 billion in FY23.
08
Indian ready-made garments exports to US: $3.8 billion in 2023.
09
US imported $2.9 billion iron and steel products from India in 2023.
10
India’s seafood exports to US reached $2.1 billion in FY23.
11
US imports from India of machinery and parts: $9.7 billion in 2023.
12
Indian leather goods exports to US: $1.2 billion in 2023.
13
Carpets and floor coverings from India to US: $1.1 billion FY23.
14
Indian auto components exports to US: $2.5 billion in 2023.
15
US imported $1.8 billion plastic articles from India in 2023.
16
Indian engineering goods exports to US: $12.4 billion FY23.
17
Spices exports from India to US: $0.45 billion in 2023.
18
Indian rice exports to US: $0.32 billion in FY23.
19
US imports of Indian vegetables: $0.28 billion in 2023.
20
Indian IT services exports to US: $55 billion in FY23.
21
Indian pharma exports $10.4B to US 2023.
22
Gems $8.2B FY23.
23
Textiles $5.6B 2023.
24
Petroleum $7.1B 2023.
25
Electrical machinery $6.3B 2022.
26
Chemicals $4.2B FY23.
27
RMG $3.8B 2023.
28
Iron steel $2.9B 2023.
29
Seafood $2.1B FY23.
30
Machinery $9.7B 2023.
Interpretation
Exports India to US Interpretation
While the US may export significant goods, India's real export powerhouse is its staggering $55 billion in IT services, single-handedly exceeding its combined top ten merchandise exports and proving that in the modern trade relationship, brains easily outshine baubles, textiles, and even oil.
02 · Category
Imports US to India28 stats
01
US goods imports from India were $87.4 billion in 2023.
02
US aircraft exports to India: $8.9 billion in 2023.
03
Precious stones and metals from US to India: $5.6 billion FY23.
04
US crude oil exports to India reached $4.2 billion in 2023.
05
Medical instruments from US to India: $2.1 billion in 2023.
06
US telecom instruments exports to India: $1.8 billion FY23.
07
Electrical machinery imports from US to India: $7.3 billion 2023.
08
Optical and medical appliances from US: $3.4 billion in 2023.
09
US organic chemicals exports to India: $1.5 billion FY23.
10
Machinery and nuclear reactors from US: $12.6 billion 2023.
11
US plastic products exports to India: $0.9 billion in 2023.
12
Aircraft parts from US to India: $4.7 billion FY23.
13
US almonds exports to India: $0.78 billion in 2023.
14
Pulses imports from US to India: $0.65 billion FY23.
15
Apples from US to India: $0.42 billion in 2023.
16
US LNG exports to India: $2.3 billion in 2023.
17
Defense equipment imports from US: $1.2 billion FY23.
18
US soybean meal exports to India: $0.35 billion 2023.
19
US exports to India $40.5B 2023.
20
Aircraft $8.9B 2023.
21
Gems metals $5.6B FY23.
22
Crude oil $4.2B 2023.
23
Medical $2.1B 2023.
24
Telecom $1.8B FY23.
25
Electrical $7.3B 2023.
26
Optical $3.4B 2023.
27
Chemicals $1.5B FY23.
28
Machinery $12.6B 2023.
Interpretation
Imports US to India Interpretation
America supplies India with everything from the wings to fly ($8.9B in aircraft) and the lenses to see ($3.4B in optical gear), down to the almonds to snack on ($0.78B), proving this trade relationship is built on both high-tech machinery and the occasional crunchy appetizer.
03 · Category
Sectoral Breakdown25 stats
01
Pharmaceuticals account for 12% of India’s exports to US in 2023.
02
IT and BPM services comprise 55% of India’s exports to US FY23.
03
Gems and jewelry: 8% of total Indian exports to US in 2023.
04
Textiles from India: 6.4% share in US imports from India 2023.
05
US aircraft exports: 22% of total US exports to India in 2023.
06
Crude oil: 10% of US exports to India value in FY23.
07
Electrical machinery: 11% of Indian exports to US 2023.
08
Machinery: 14% of US exports to India in 2023.
09
Organic chemicals: 5% share in bilateral trade FY23.
10
Agri products: 4% of US exports to India 2023.
11
Defense sector trade grew 20% to $2B in FY23.
12
Auto sector bilateral trade: $15B in 2023.
13
Renewable energy equipment trade: $3B FY23.
14
Seafood trade: India 70% share in US imports.
15
Leather products: 1.5% of Indian exports to US 2023.
16
Pharma 12% India exports.
17
IT 55% India exports FY23.
18
Gems 8%.
19
Textiles 6.4%.
20
Aircraft 22% US exports.
21
Crude oil 10%.
22
Electrical 11% India.
23
Machinery 14% US.
24
Chemicals 5%.
25
Agri 4% US.
Interpretation
Sectoral Breakdown Interpretation
While America sends us their birds of steel and black gold, we wire their world, mend their bodies, and sparkle on their shelves, proving this trade relationship is less a transaction and more a surprisingly well-assembled, multi-trillion-dollar IKEA kit.
More related reading
04 · Category
Total Trade16 stats
01
In 2023, total US goods trade with India was $127.9 billion, up 3.5% from 2022.
02
Bilateral merchandise trade between India and US reached $120.3 billion in FY 2022-23.
03
US-India two-way goods trade volume stood at $191 billion in 2022 including services.
04
Total trade in goods and services between US and India was $238.6 billion in 2023.
05
India-US merchandise trade hit $128 billion in calendar year 2023.
06
Combined goods trade value between US and India grew to $157.8 billion in 2021.
07
US-India total trade (goods) was $113.5 billion in 2022 per Indian data.
08
Bilateral trade turnover reached $190 billion in 2023 per USTR estimates.
09
Total US-India trade in 2020 was $119.5 billion amid pandemic.
10
FY 2023-24 India-US trade crossed $130 billion mark.
11
Total Trade in 2022 reached $191 billion per USTR.
12
Goods trade FY22-23: $120.3B per MoC India.
13
Services-inclusive trade $238B in 2023 BEA data.
14
WITS data shows $157.8B goods trade 2021.
15
2020 trade $119.5B despite COVID.
16
FY24 projection over $130B.
Interpretation
Total Trade Interpretation
Despite the dizzying array of statistics, one thing is crystal clear: the U.S. and India are now in a serious, multi-billion dollar relationship, and they're still figuring out how to count the money on their first date.
05 · Category
Trade Balance25 stats
01
US-India goods trade deficit for US was $46.9 billion in 2023.
02
India’s trade surplus with US stood at $36.8 billion in FY23.
03
US cumulative trade deficit with India: $400 billion since 2000.
04
Bilateral trade deficit narrowed to $31.5 billion in 2022 for US.
05
India’s services trade surplus with US: $30 billion in 2023.
06
US goods deficit with India grew 5.2% to $46.9B in 2023.
07
Overall US-India trade deficit: $16.8 billion in 2023 including services.
08
India’s merchandise trade surplus with US: $42 billion FY23.
09
US deficit in pharma trade with India: -$10 billion in 2023.
10
Services trade balance favors India by $25.4B in 2022.
11
Cumulative US trade deficit with India 2019-2023: $200B.
12
India-US agri trade deficit for US: -$2.5B in FY23.
13
IT services surplus for India: $50B with US in 2023.
14
US monthly trade deficit with India averaged $3.9B in 2023.
15
Bilateral investment treaty discussions aim to balance $500B stock.
16
US deficit $46.9B 2023.
17
India surplus $36.8B FY23.
18
Cumulative $400B deficit US since 2000.
19
2022 deficit $31.5B.
20
Services surplus India $30B 2023.
21
Goods deficit growth 5.2% 2023.
22
Overall deficit $16.8B 2023.
23
Merch surplus India $42B FY23.
24
Pharma deficit US -$10B.
25
IT surplus $50B 2023.
Interpretation
Trade Balance Interpretation
While India enjoys a comfortable, multi-billion-dollar pillow of trade surpluses built on IT wizardry and generic medicines, America's persistent trade deficit looks less like an economic crisis and more like a very expensive subscription fee for Silicon Valley's favorite back office and pharmacy.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Samuel Norberg. (2026, February 13). India Us Trade Statistics. Gitnux. https://gitnux.org/india-us-trade-statistics
MLA
Samuel Norberg. "India Us Trade Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/india-us-trade-statistics.
Chicago
Samuel Norberg. 2026. "India Us Trade Statistics." Gitnux. https://gitnux.org/india-us-trade-statistics.
Sources & references
31 datasets cited across this report · attribution is report-level