Sergio Gor (Image credit :ANI)
Speaking at an event hosted by the American Chamber of Commerce, the envoy said the agreement would help strengthen supply chains, encourage fresh investments and support sustained inclusive growth.$500 billion trade target by 2030“Our shared ambition of achieving $500 billion in bilateral trade by 2030 reflects the connectivity between our economies, the confidence built, and the scale of opportunity. We stand at a remarkable moment,” he said, as reported by ANI. According to PTI, Gor also said US President Donald Trump aims to facilitate bilateral trade in a way that creates lucrative opportunities for American businesses and workers.Referring to India’s free trade agreement with the European Union finalised in January, Gor noted that the negotiations had taken nearly 19 years. However, he expressed confidence that the proposed India-US trade pact could be concluded within one-and-a-half years of the start of negotiations.”We are confident that in the coming weeks and months, this (India-US) trade deal could be finalised,” he said.Goyal highlights $60 billion US investment commitmentUnion Commerce Minister Piyush Goyal, who also attended the event, said India and the US are emerging as natural partners with complementary strengths across sectors. “America and India truly are working as natural partners. We complement each other. What America can offer is in terms of technology, innovation, high-precision defence, digital data centres, quantum computing, and equipment of very high calibre in the medical devices sector,” Goyal said. He further added, “US commitment upwards of $60 billion in last six months looking at Amazon, Google data centre investment pledge; US-India truly working as natural partners, complement each other.”India-US Trade Pact talksThe framework for the proposed interim US-India trade pact was first outlined in a joint statement issued on February 7, however, witnessed a major shift after the US Supreme Court ruling struck down reciprocal tariffs.Following the ruling, the US imposed a 10 per cent auxiliary duty on imported goods under Section 122 of the Trade Act for a temporary 150-day period starting February 24.Simultaneously, Washington also launched investigations under Section 301 into issues related to industrial overcapacity and labour practices involving major exporting countries.Indian officials have already submitted formal responses to the investigations, while discussions between the two sides are continuing as negotiators work to resolve key outstanding issues ahead of the final agreement. Go to Source
