The world’s two fastest-growing major economies are China and India. In 2019, China’s per capita GDP growth was 6.1 percent, and India’s 5 percent based on World Bank data. The two countries also have the most rapid rates of growth of household and total consumption. Both China and India are growing far more rapidly than Western economies.
India joined the global market mostly during the Cold War. Once established in the global market, India became a productive nation and developed several strong working relationships with other countries including the United States. India has created such a healthy relationship with the U.S. that the U.S. is amongst India’s most significant investment and trade partners.
Its relationship with the U.S has substantial benefits because the U.S. is the world’s largest consumer. On top of that, India is looking for investors to help fuel the growth of its economy. The U.S. can offer a significant helping hand by providing investor connections and increasing India’s
Besides trade and investment, the U.S.-India Strategic Dialogue, launched in 2009, provides opportunities to strengthen collaboration in areas including energy, climate change, trade, education, and counterterrorism. Indeed, President Obama has called India one of the defining partnerships of the 21st century, one which will be vital to U.S. strategic interests in Asia-Pacific and across the globe.