India-US trade deal could be finalized in coming weeks or months, says Sergio Gor: 'We stand at a remarkable moment'

The United States looks forward to concluding a proposed bilateral trade agreement with India that will facilitate expanded market access, reduce barriers and create greater certainty for businesses, US Ambassador Sergio Gor said on May 21.

The envoy said the trade agreement will strengthen supply chains and promote sustainable inclusive growth, in addition to encouraging new investment.

Read also | Indo-US partnership expanding across technology, defense and supply chains: Goyal

Gor was speaking at an event hosted by the American Chamber of Commerce.

“We look forward to finalizing the details of a new bilateral trade agreement that will expand market access, reduce barriers and create greater certainty for businesses on both sides,” he said.

The ambassador said President Donald Trump’s goal is to facilitate bilateral trade in a way that creates lucrative opportunities for American businesses and workers.

Referring to the finalization of India’s free trade pact with the European Union in January, Gor suggested that it took almost 19 years. However, he said an India-US trade deal could be concluded within one-and-a-half years from the start of talks.

“We are confident that in the coming weeks and months this (India-US) trade deal could be finalised,” he said.

The ambassador said that India’s expanding manufacturing ecosystem, digital infrastructure, innovation capabilities and skilled talent complement America’s leadership in technology, investment, advanced research and entrepreneurship.

$500 billion in bilateral trade by 2030

Gor said the US and India’s shared ambition to reach $500 billion in bilateral trade by 2030 reflects the trust and connectivity between the two economies.

“We stand at a remarkable moment. Over the past two decades, bilateral trade in goods and services has grown from around $20 billion to more than $220 billion, an eleven-fold increase that reflects deep trust and enhanced economic integration,” he said.

$60 billion in investment in 6 months: Goyal

At the same event, Union Commerce Minister Piyush Goyal said US companies have invested more than $60 billion in the past six months as global businesses deepen their bets on India amid growing demand for trusted supply chains and digital infrastructure.

Goyal said India and the US are becoming “natural partners” supported by economic complementarity and resilient supply chains, arguing that India will remain the world’s fastest growing economy for at least 25 years.

We stand at a remarkable moment. Over the past two decades, bilateral trade in goods and services has grown from about $20 billion to more than $220 billion.

Calling the India-US relationship the defining partnership of the 21st century, Goyal said India’s long-term economic transformation is driven by infrastructure expansion, renewable energy growth, digital adoption and flagship initiatives such as Startup India, Make in India and Digital India.