PM's visit to U.S. comes with rapid trade growth

Reuters - Prime Minister Manmohan Singh arrives in Washington on Monday for a state visit set to boost the burgeoning economic relationship between two countries, which had relatively marginal commercial dealings a decade ago.

Following are key aspects of economic ties that took off with the end of the Cold War and the embrace of economic reforms by India -- an adoption of market-friendly policies in which Singh played a prominent role earlier in his career:

BILATERAL TRADE - Two-way trade, just $5 billion in 1990, reached $14 billion in 2000 and rose to nearly $50 billion last year, according to U.S. figures, making the United States India's largest trading partner. The United States sells India aircraft and parts, advanced machinery, cotton, fertilizers, and computer hardware.

It imports Indian textiles and leather goods, Internet services, agricultural products, gems, leather products, and chemicals. India reckons trade has at least doubled in the past five years, while U.S. exports to India have tripled in that period.

INVESTMENT - U.S. cumulative direct investments through mid-2008 of nearly $16 billion in power and oil refineries, telecommunications, electronics, food processing and services make the United States one of India's largest investors, according to U.S. statistics.

The Indian embassy lists the United States as the largest portfolio investor in India. U.S.-bound investment from India has grown about 75 percent annually since 2002, the embassy says.