Subcommittee on Asia and the Pacific of

U.S.-India Relations Subcommittee on Asia and the Pacific of

The U. S.-India relationship can be characterized as one of enormous potential. It is in the interest of this subcommittee and the United States to see democratic societies prosper, and it is because of this view that India is a natural partner for the United States. The 1.3-billion-person nation has become the focus of U. S. trade and business opportunity. As a growing military power, India is also a critical global security partner with the potential to help avert military confrontation and conflict in the Indo-Pacific region. Both the United States and India recognize the potential partnerships between the world's fastest-growing large economy and the world's most powerful economy. Bilateral trade has much more room to grow. Trade in goods and services ballooned between 2005 and 2015. Both countries have prioritized the economic relationship, aiming to reach $500 billion in bilateral trade in goods and services by 2024, a fivefold increase from the 2014 level.