India-US Trade Deal Nears as US Targets $500 Billion Trade by 2030 Amid $60B Investments

Added: 2026-05-22

[00:00:18]The United States of America is looking forward to sealing the proposed bilateral trade agreement with India that facilitate expanding market access, reduce barriers, and create greater certainty for businesses, US Ambassador Sergio Gorcit on 21st May.

[00:00:33]The envoy said the trade deal will strengthen supply chains and drive sustained inclusive growth besides encouraging new investments.

[00:00:42]Gor was speaking at an event hosted by the American Chamber of Commerce where he said the shared ambition of the US and India to achieve $500 billion in bilateral trade by 2030 reflects the confidence and connect between the two economies.

[00:00:56]At the same event, Union Commerce Minister Piyush Goyal said American companies have committed more than $60 billion in investment over the past 6 months as global businesses deepen their India bets amid rising demand for trusted supply chains and digital infrastructure.

[00:01:11]In the last 6 months, if I look back at the various commitments that we are seeing from American industry, probably the number will be upwards of $60 billion.

[00:01:23]And I look at just the Amazon data center commitment or the Google data center commitments. So, my gut feeling is that America and India truly are working as natural partners.

[00:01:38]We complement each other.

[00:01:40]What America can offer in terms of technology, innovation, in terms of high precision, defense, digital, data centers, quantum computing equipment of very high caliber in the medical devices sector. Mhm.

[00:02:00]All of these are areas where we do need to work closely with America.

[00:02:07]Likewise, America is looking for a trusted partner.

[00:02:11]Suddenly, somebody who doesn't steal your IP.

[00:02:15]And I think India has proven track record over decades of truly working as a country, as a set of businesses here, who respect the intellectual property of foreign companies, who can be trusted to deliver high quality on time.

[00:02:40]There's a large pool of talent available for all of you.

[00:02:45]And in some sense, these are two economies which totally complement each other with hardly any competition.

[00:02:53]And when this complementarity has an overlay of mutual trust, I think it becomes a unbeatable combination. Global supply chains are being reconfigured. Economies are seeking trusted and resilient partnerships.

[00:03:10]We have seen over the last decade that over overdependence on a single segment of the supply chain creates vulnerability.

[00:03:19]Simply put, the United States, under President Trump, trusts India.

[00:03:25]That's where the US-Indian partnership has the potential to be globally transformative.

[00:03:29]Working together, America and India can combat dependence, allowing a broader range of suppliers to reach markets.

[00:03:37]Together, we can integrate value chains, accelerate technological advancement, and strengthen energy security.

[00:03:45]The United States and India are uniquely positioned to drive the next phase of global economic growth.

[00:03:50]And when we work together on such shared objectives, we create more than the sum of our parts.

[00:03:56]India's ex- expanding manufacturing ecosystem, digital infrastructure, innovation capabilities, and skilled talent pool complement America's leadership in technology, investment, advanced research, and entrepreneurship.

[00:04:11]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.

[00:04:24]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.

[00:04:35]That 11-fold increase reflects deep trust along with strengthened economic integration.

[00:04:42]Today, the United States and India are among each other's top trading partner.

[00:04:46]I often talk about limitless potential and what it is that our two nations can do together.

[00:04:51]And I'm always amazed at the individuals that come visit us at the US Embassy.

[00:04:56]Every single week, CEOs from the United States are here.

[00:05:00]And they're here and 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.

[00:05:20]This is a regular occurrence, and it's a testament to that limitless potential between our two countries.

[00:05:27]Of particular note, this growth is increasingly driven by innovation, investment, and high-value sectors, from digital trade and advanced manufacturing to energy and emerging technologies, linking not just large corporations, but also startups.

[00:05:42]We've seen unprecedented progress, and we have uh potential ahead if we choose to work together.

[00:05:49]We can seize opportunities to scale the US-India partnership into a more seamless, resilient, and transformative economic partnership.

[00:05:58]India's growing economy and significant infrastructure needs align well with American expertise in energy, aviation, R&D, advanced manufacturing, and digital infrastructure.

[00:06:10]Such investments will benefit both of our nations.

[00:06:13]Simply put, we've a win-win situation for both of us.

[00:06:17]Our investment and trade expansion offer transformative potential.

[00:06:21]President Trump's goal is to facilitate bilateral trade in a way that creates lucrative opportunities for American businesses and workers.

[00:06:29]Our current interim trade agreement is on the table for us to finalize, and that will unlock prosperity for both of our nations. We look forward to finalizing the details of a new bilateral trade agreement, one that will truly unlock the full potential of this relationship by expanding market access, reducing barriers, and creating greater certainty for businesses on both sides of the table.

[00:06:54]We've talked about supply chains. Well, this agreement, done right, would strengthen those supply chains. It would also catalyze new investments and drive sustained, inclusive growth, bringing tangible benefits to our industries, our workers, and our economies.

[00:07:09]Last month, the Indian delegation sent a trading team to Washington, D.C., to help finalize the trade deal.

[00:07:16]Next month, the United States will be sending a delegation to Washington, once again focused on the trade deal.

[00:07:22]To all of you who have asked, "What is taking so long?" It has been a year and a half since we started these negotiations on on the trade deal. To put in perspective, the European Union took almost 19 years.

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