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 Gore said on Thursday.
The envoy said that the trade agreement will strengthen supply chains and drive sustainable, inclusive growth as well as encourage new investments.
Gore was speaking at an event hosted by the U.S. 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 profitable opportunities for American companies and workers.
Referring to the finalization of the India-EU free trade agreement in January, Gaur pointed out that it had taken almost 19 years.
However, he said that a trade agreement between India and the US could be concluded within a year and a half of the start of negotiations.
“We are confident that this (India-US) trade agreement can be finalized in the coming weeks and months,” he said.
India’s expanding manufacturing ecosystem, digital infrastructure, innovation capabilities, and skilled talent pool complement US leadership in technology, investment, advanced research, and entrepreneurship, the ambassador said.
Gore said the shared ambition between the US and India to achieve bilateral trade worth US$500 billion by 2030 reflects the trust and connectivity between the two economies.
“We stand at a remarkable moment. Over the past two decades, bilateral trade has grown from about US$20 billion to more than US$220 billion in goods and services, an 11-fold increase that reflects deep confidence and strengthening economic integration,” he said.
