Prime Minister Narendra Modi’s official state visit to the US presents a significant opportunity to deepen India-US economic engagement. While in the past few years, rising trade and capital flows reflect increasing economic ties between India and the US, their common concern about China’s coercive actions could further strengthen their economic and strategic relations. On the trade front, both countries will benefit from trade diversification initiatives. India would try to deepen its trade ties with the US to reduce its exposure to China. While India enjoys a trade surplus with the US, China is India’s second largest trade partner and…