U.S. aims to boost India trade to $500 bn in three years, ambassador says

Speaking to business leaders at the Freedom 250 reception in Mumbai, Ambassador Sergio Gor reiterated President Donald Trump’s directive to produce concrete outcomes, pointing out that U.S.-India trade has already broken records at over $240 bn. He set an ambitious target to push that figure beyond $500 bn within the next three years, with a focus on future-oriented sectors such as semiconductors, critical minerals, energy, defence and superintelligence.

Gor emphasized Mumbai’s role as a hub, noting more than 500 major American companies—including Google, Meta, IBM, Procter & Gamble, Johnson & Johnson, Pfizer, Abbott, Merck, Citi, Bank of America and JPMorgan Chase—have a presence there. He added that U.S. institutional investors constitute the largest single foreign ownership block in Indian stock markets, reflecting confidence in India’s growth. Meanwhile, Secretary of State Marco Rubio described the India-U.S. partnership as “extraordinary,” stressing shared core interests despite occasional disagreements and urging more frequent diplomatic contact. The article also referenced a pending interim trade framework covering textiles, leather, engineering goods and pharmaceuticals, with tariff cuts pending finalisation.