India Aims for $500 Billion Target in US Trade

India is targeting a USD 500 billion bilateral trade with the US by 2030, involving a new agreement. This initiative will enhance India's exports, focusing on technology, defence, and green energy. The Federation of Indian Export Organisations highlights the benefits of removing trade barriers and increasing market integration.

India has set an ambitious target to increase its bilateral trade with the United States to USD 500 billion by 2030. The plan, which includes a proposed trade agreement between the two nations, is expected to significantly boost India's export opportunities in sectors like technology, defence, and green energy.

According to the Federation of Indian Export Organisations, eliminating trade barriers and enhancing procedural efficiency could bolster India’s competitive edge on a global scale. FIEO President Ashwani Kumar emphasized the importance of streamlining operations to maximize benefits.

During a high-level visit to Washington, Prime Minister Narendra Modi discussed these objectives, underscoring the mutual advantages. Deep Kapuria, Chairman of Hi-Tech Gears, noted that these developments could incentivize US investors to explore new opportunities in India while aiding Indian industries in strengthening their presence in global value chains.

(With inputs from agencies.)