Current Economic Conditions. (4) Bysome measurements, India is among the world's largest economies. Currently, more than 60% of India's software and service exports go to North America, mainlyto theUnited States. Major U.S.-Indo Trade Issues. India's sizable population and large and growing middle class make it a potentially large market for U.S. goods and services.
India is a country with a long history and a large population (more than onebillion people, nearly half living in poverty). Given that it is the world's most populous democracy, a U.S. ally inanti-terrorism efforts, and a potentially major export market, India's economic development and its trade relationswith theUnited States are of concern to Congress. This report will be updated as events warrant.