The United States and India have developed a remarkable economic partnership, with bilateral trade growing from $20 billion to over $220 billion in goods and services over two decades, making them each other's top trading partners. This growth reflects deep trust and strengthened economic integration, with US companies like Uber, Walmart, Boeing, and Lockheed relocating to India, while Indian companies invest over $20 billion in the US, particularly in pharmaceuticals, manufacturing, and technology. Both nations share an ambitious goal of achieving $500 billion in bilateral trade by 2030, demonstrating the scale of opportunity and connectivity between their economies.
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US And India Are Among Each Other’s Top Trading Partners: Sergio Gor | N18GAdded:
US expanding manufacturing ecosystem, digital infrastructure, innovation capabilities, and skilled talent pool complement America's leadership in technology, investment, advanced research, and entrepreneurship.
Our shared ambition of achieving $500 billion in bilateral trade by 2030 reflects the level of connectivity between our economies and shared confidence in the scale of opportunity.
We stand at a remarkable moment. Over the last two decades, we have seen bilateral trade grow from about 20 billion to over 220 billion in goods and services.
That 11-fold increase reflects deep trust along with strengthened economic integration.
Today, the United States and India are among each other's top trading partner.
I often talk about limitless potential and what it is that our two nations can do together.
And I'm always amazed at the individuals that come visit us at the US Embassy.
Every single week, CEOs from the United States are here.
And they're here that they're not in other parts of the world. Every single week, CEOs from the United States come to the Embassy and say, "I want to move my company from another country to India." And in the in the last week alone, from Uber to Walmart, their top CEOs are here. This week, we'll be welcoming executives from Boeing, Lockheed, GE. This is not a one-off.
This is a regular occurrence, and it's a testament to that limitless potential between our two countries. Investment flows are reaching new heights. Indian companies continue to expand in the United States, particularly in pharmaceuticals, manufacturing, and technology. While US firms are expanding their footprint in India's fast-growing market.
I was thrilled to see Indian companies committing more than $20 billion investments in the United States at the annual Select Investment Summit. And not only is that a big number at 20 billion, all the embassies compete to bring investment into the United States. And we were thrilled to see that our embassy, working with our partners here in India, was first in the world, which is an incredible achievement.
Thank you.
>> [clears throat] [music] [music] >> Hey, thank you for watching this on CNBC TV18. Hope you liked it. For more such interesting news and updates, follow CNBC TV18 on all the social media platforms.
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