New Delhi: The United States aims to increase bilateral trade with India to more than $500 billion within the next three years, building on the current record of over $240 billion, US Ambassador to India Sergio Gor has announced.
Speaking at the Freedom 250 reception in Mumbai, Gor highlighted the growing economic and strategic partnership between the two countries. He said the US administration had prioritised delivering concrete results and expanding cooperation across key sectors.
Gor noted that the trade target had received renewed attention during discussions between US President Donald Trump and Prime Minister Narendra Modi. The proposed expansion is expected to cover emerging and strategically important industries, including semiconductors, critical minerals, energy, defence and advanced artificial intelligence technologies.
Describing the partnership as an expanding alliance, Gor highlighted cooperation ranging from deep sea data infrastructure and industrial manufacturing to scientific research and commercial space exploration. He also emphasised the importance of long term collaboration in strengthening economic opportunities for both countries.
Mumbai, he said, plays a significant role in this relationship, with more than 500 major American companies operating in the city. These include technology firms, pharmaceutical manufacturers, consumer goods companies and leading financial institutions. American institutional investors also account for a substantial share of foreign investment in Indian equities.
US Secretary of State Marco Rubio, who attended the gathering, described the strategic alignment between India and the United States as extraordinary. He acknowledged that the two countries would not always agree on every issue but stressed that their shared interests could shape global affairs, trade and economic development for decades.
Rubio also called for more frequent diplomatic engagement with India, describing the country as one of Washington’s most important geopolitical partners. He highlighted the significance of cooperation between the world’s largest economy and a country approaching a population of 1.5 billion.
The trade ambitions come as both governments work towards an interim trade agreement announced in February 2026. The proposed framework seeks to improve market access and reduce trade barriers across sectors such as textiles, leather, engineering goods and pharmaceuticals.
Official figures for the 2025 to 2026 financial year show that India exported $87.31 billion worth of merchandise to the United States and imported $53.45 billion.
The final terms and implementation timeline of the proposed agreement remain to be announced. Achieving the $500 billion target will require sustained growth in trade, investment and cooperation across multiple industries.
