Stronger Ties: India and U.S. Eye $500 Billion Bilateral Trade

India's foreign minister, Subrahmanyam Jaishankar, discussed advancing trade, minerals, energy, and nuclear cooperation in talks with U.S. Secretary of State Marco Rubio. Aiming to double bilateral trade to $500 billion by 2030, both countries are focused on economic collaboration amid regional and global challenges.

In a recent dialogue, India's Foreign Minister Subrahmanyam Jaishankar and U.S. Secretary of State Marco Rubio delved into crucial discussions on trade, critical minerals, and energy operations. As economic giants, India and the U.S. have set an ambitious goal to double bilateral trade to $500 billion by the year 2030.

This target comes in conjunction with India's commitment to increasing its imports of U.S. energy and defense assets, aiming to mitigate the current trade imbalance. Despite last year's unsuccessful trade talks, which led to a dip in the Indian rupee and concerned potential investors, both nations are continuing negotiations to stimulate economic ties.

In an official statement, Rubio expressed admiration for India's decision to diminish state control over nuclear power, highlighting opportunities for American partnerships in the civil nuclear sector. Furthermore, their discussions reinforced a mutual dedication to fostering a free and open Indo-Pacific region.

(With inputs from agencies.)