India, US Set to Boost Trade to $500 Billion in 6–8 Months: Goyal

India and the US are committed to increasing bilateral trade to $500 billion and negotiating a "strong" trade agreement within the next 6–8 months, Commerce and Industry Minister Piyush Goyal said on Tuesday.

- Press Trust of India

NEW DELHI:

During the recent visit of Prime Minister Narendra Modi to Washington, India and the US announced to more than double the two-way commerce to $500 billion by 2030 and negotiate the first tranche of a mutually beneficial, multi-sector bilateral trade agreement (BTA) by fall of 2025.

Goyal said once his US counterpart takes charge, both countries will discuss the contours of the pact.

"...In the next 6–8 months, by establishing a strong trade agreement, we are committed to increasing trade to $500 billion," Goyal told reporters here on the sidelines of CII's India-Qatar Business Forum meet.

He added businesses of both the countries are excited about the agreement.