Economic Conditions And How It Effects Trade Between The U.S. And India

Abstract

This paper examines the economic conditions that effect trade between the U.S. and India. Examining the existing economic conditions of both countries is important to determine the current and future trade issues that both countries may face. Since India’s formation in 1947 and up until 1991, India was a closed economy with strict controls and regulations regarding trade. After a severe economic crisis in 1991 India started opening its borders to foreign trade, embraced globalization and drastically liberalized its trade policy.  However, the exploding population in India is having strong economic and environmental implications for India and how it relates to the rest of the world.