New Delhi: Prime Minister Narendra Modi is ready for his first direct meeting with US President Joe Biden.
As a developing democracy, India and the US have mutual interests and many similarities.
The leaders of the two countries have long tried to maintain strong bilateral bonds.
In his departure statement, PM Modi stated that his trip to the US would be an opportunity to strengthen a comprehensive global strategic partnership between the two countries.
America is the second largest trading partner of India.
However, regardless of the large trading volume, the two countries failed to seal the trade deal that was widely awaited.
As Modi and Biden renew and strengthen age bonds, we see how the economy of the two countries has formed, especially after the Covid outbreak and where two stands in terms of trade.
The story of two economies before the emergence of Covid-19 pandemics, gross domestic product growth (GDP) has declined to the level no later than more than 6 years.
The country recorded the first technical recession in the first half of 2020 with two consecutive quarters of negative growth as a national locking to deploy the spread of the virus business activities that were truly stopped.
GDP began to recover gradually from the third quarter of FY21 when certain activities followed by gradual easing of the Covid sidewalk.
However, the recovery was not enough to completely erase the adverse effects of Covid and for the first time in 40 years, GDP recorded a negative annual growth of 7.3 percent.
FY 22 has begun on a positive note.
Indian GDP is now growing at the fastest speed with a 20.1 percent increase in the first quarter supported by low basic effects.
But it takes time before the economy returns to the pre-pandemic level.
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Modi-Biden Meeting: Focus on Indian-US Trade Association
