India continues to emerge as one of the most important marketsin the developing world and an important trading partner for theUS. The United States and India view one another as importantstrategic partners to advance common interests regionally andglobally. Bilateral trade in goods and services is 2% of US worldtrade, and has grown in recent years.India-US bilateral relations today not only encompass themajor pillars of our strategic partnership - including security,energy and technology - but have deepened with greater bilateraleconomic engagement and ever increasing people-to-peoplecontacts. In the last few years, the bilateral relationship also hasexpanded into a global partnership with greater convergence ofviews on a number of issues such as international terrorism andshared approach to rules-based order in the Indo-Pacific region.India US Trade Relations is the significant aspect of the globaland strategic partnership existing between the two countries,United States and India. India's export of goods to the US is about$50-billion. Not all products are under GSP and most of the productsthat top India's exports to US are not under GSP, for example-precious stones (diamonds), jewellery, Motor vehicles, fuel (refinedcrude), Pharmaceuticals, many apparel products etc. Of the majorexport products, some chemical products, machinery and parts,automobile parts are covered under GSP and their exports will beimpacted.India and the United States cooperate closely at multilateralorganizations, including the United Nations, G-20, Association ofSoutheast Asian Nations (ASEAN) Regional Forum, InternationalMonetary Fund, World Bank, and World Trade Organization. TheUnited States supports a reformed UN Security Council thatincludes India as a permanent member. India is an ASEAN dialoguepartner, an Organization for Economic Cooperation andDevelopment partner, and an observer to the Organization ofAmerican States.