US and India Target $500 Billion Trade Deal by 2030

US and Indian officials announced at the ninth US-India Strategic Partnership Forum (USISPF) Leadership Summit in Washington that a bilateral trade agreement is in its final stages. US Ambassador to India Sergio Gor stated that approximately 98% of the deal is complete following 18 months of negotiations. The progress follows a June 23-24 diplomatic visit to India by US Trade Representative Jamieson Lee Greer.

Prime Minister Narendra Modi and President Donald Trump have agreed to increase bilateral trade to $500 billion by 2030. USISPF President Mukesh Aghi noted that India is a primary beneficiary as American companies reduce their dependence on China, citing Apple Inc.'s production of iPhone 17 and planning for iPhone 18 in India as a key example. US companies currently operate about 60% of India's 2,800 Global Capability Centres.

USISPF Chairman John T. Chambers and US Under Secretary of State Jacob Helberg urged both nations to move beyond bureaucratic silos to integrate artificial intelligence, semiconductors, and defense manufacturing. Helberg identified India as the only country fundamentally rivaling China in engineering talent. The strategic shift aims to create trusted technology ecosystems and resilient supply chains, with Ambassador Vinay Mohan Kwatra noting India's goal of becoming a $7 trillion economy by the end of the decade.