US Ambassador hints at finalisation of trade deal with India

New Delhi, May 22: Indicating strong interest of the United States in deepening economic ties with India, its Ambassador Sergio Gor has hinted at possibility of finalisation of a bilateral trade agreement and setting an ambitious target of achieving $500 billion in India-US trade by 2030.

Addressing an event, Gor said both countries are looking forward to finalising details of a new trade agreement that could help expand market access, reduce trade barriers, and create greater certainty for businesses on both sides.

He noted that such a deal would strengthen supply chains, encourage investments, and support long-term economic growth.

India and the United States have significantly expanded trade over the past two decades.

Bilateral trade has reportedly grown from around $20 billion to over $220 billion in goods and services, reflecting stronger business integration and strategic cooperation.

The proposed target of $500 billion by 2030 reflects the shared economic ambitions of both countries and could open new opportunities in sectors such as technology, manufacturing, energy, innovation, and digital infrastructure.

The two countries have already finalised an interim trade agreement and the next round of negotiations are expected in New Delhi next month.