Business · Trade · 1 hr ago
US aims to more than double trade with India to $500 billion in three years
US Ambassador Sergio Gor set a $500 billion trade target for the United States and India within three years.
Bilateral trade has reached a record more than $240 billion, according to Gor.
The target would more than double the current level.
Gor spoke at a business and diplomatic reception in Mumbai, where he said President Donald Trump and Prime Minister Narendra Modi had reaffirmed their commitment to the goal.
The planned expansion includes semiconductors, critical minerals, energy and defence, as well as superintelligence.
The two countries have a broad economic and strategic partnership, but US Secretary of State Marco Rubio said they will still disagree on some issues.
The next step is to grow trade over the coming three years; no specific measures or timeline beyond that were given.
The United States aims to raise bilateral trade with India to more than $500 billion within three years, Ambassador Sergio Gor said.
Trade currently stands at more than $240 billion, according to Gor.
He announced the target while addressing business leaders and diplomats at a reception in Mumbai.
Gor said the expansion would cover sectors including semiconductors, critical minerals, energy, defence and superintelligence.
- Who
- US Ambassador to India Sergio Gor announced the target.
- What
- The United States aims to more than double bilateral trade with India to over $500 billion.
- When
- Within the next three years.
- Where
- At the Freedom 250 reception in Mumbai, India.
- Why
- Gor said the goal reflects the countries’ commitment to expanding their economic partnership.
This story does not have two clearly opposing sides.
President Donald Trump and Prime Minister Narendra Modi reaffirmed their commitment to expanding bilateral trade.
Sergio Gor announced the goal of raising US-India trade to more than $500 billion within three years.
- Trade target
- More than $500 billion within three years
- Current bilateral trade
- More than $240 billion
- Announcement location
- Freedom 250 reception, Mumbai
- Sectors named
- Semiconductors, critical minerals, energy, defence and superintelligence
2 sources
What people are saying
We have an ambitious goal. We are laser-focused on driving that number past $500 billion in the next three years.
Deliver results. Don't just talk about the future. Make it happen
the alignment between our countries is extraordinary