India Targets $500 Billion Trade with US by 2030, Eyes New Trade Deal
India aims to boost trade with the US, targeting $500 billion by 2030 and negotiating a new trade agreement to enhance exports in technology, defense, and green energy.
FIEO President Ashwani Kumar stressed the need to remove trade barriers, while Hi-Tech Gears Chairman Deep Kapuria called the target a key outcome of PM Modi’s US visit. The proposed trade deal, expected by fall 2025, could increase exports and attract US investment, strengthening India’s role in global value chains.
In 2023, India-US trade reached $190.08 billion, with India exporting $83.77 billion in goods and maintaining a $43.65 billion trade surplus. Services exports stood at $36.33 billion, with a $6.47 billion surplus.
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