India Sets Ambitious USD 500 Billion Bilateral Trade Target with US by 2030

India plans to elevate its bilateral trade with the US to USD 500 billion by 2030, focusing on technology, defense, and green energy to boost exports. A potential trade agreement could enhance US investments in India, though experts suggest sector-specific deals over broad FTAs for pragmatic gains.

India aims to scale up its bilateral trade with the United States to USD 500 billion by 2030, according to industry officials. This significant step is aimed at bolstering India’s exports, particularly in technology, defense, and green energy sectors.

The move could also attract considerable US investment, providing a crucial win-win for both nations. The Federation of Indian Export Organisations (FIEO) President Ashwani Kumar emphasized the need for removing trade barriers and streamlining processes in pursuit of this target.

While Prime Minister Narendra Modi's recent visit to Washington underscored this objective, experts caution against pursuing a comprehensive free trade agreement, advocating instead for sector-specific deals to yield substantial benefits.