Mumbai: The United States has set an ambitious target to double its bilateral trade with India to over USD 500 billion within the next three years, up from a record-breaking USD 240 billion, US Ambassador to India Sergio Gor said.
Addressing business leaders and diplomats at the Freedom 250 reception in Mumbai, Ambassador Gor highlighted the deepening economic and strategic partnership between the two nations, noting that President Donald Trump sent him to India with a clear mandate -- "Deliver results. Don't just talk about the future. Make it happen".
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"In their recent discussions, President Trump and Prime Minister Modi reaffirmed that commitment," Gor said. "Today, our bilateral trade has shattered records, reaching over $240 billion. We have an ambitious goal. We are laser-focused on driving that number past $500 billion in the next three years."
Gor emphasised that the upcoming economic expansion spans critical future-facing sectors, including semiconductors, critical minerals, energy, defence, and superintelligence.
Describing the momentum of the alliance, Gor stated that the relationship extends from deep-sea infrastructure to space.
"The US-India partnership does not move in a flat line; it climbs. It begins in the ocean depths with critical data infrastructure. It rises through our factories, labs, and research hubs, and it extends into deep space through commercial exploration," he said. "That is the trajectory of our alliance, rooted deep in fundamentals, accelerating upward at record speed, and heading straight for the stars."
Reflecting on the historical tie between the nations during the Freedom 250 event, Gor added, "What we have seen over the next 250 years has been incredible. What we hope to see over the next 250 years will be even more incredible."
Highlighting Mumbai's role as an economic hub for the partnership, Gor pointed out that more than 500 major American companies operate in the city, including technology leaders Google, Meta, and IBM; consumer giants Procter & Gamble and Johnson & Johnson; pharmaceutical companies Pfizer, Abbott, and Merck; and financial institutions Citi, Bank of America, and JPMorgan Chase.
Furthermore, American institutional investors represent the largest single block of foreign capital in Indian equities traded on Mumbai's stock exchanges.
"That is not an accident. That is a massive vote of confidence in India's economic trajectory," Gor remarked. "None of this happened by accident, and none of it was built overnight."
Meanwhile, US Secretary of State Marco Rubio has characterised the strategic alignment between India and the United States as "extraordinary", emphasising that both nations have an opportunity to shape the course of the 21st century through partnership.
Addressing the gathering, Rubio observed that while Washington and New Delhi would not see eye to eye on every matter, their shared fundamental interests hold the capacity to influence geopolitics, economics, trade and commerce for decades to come.
"No two nations on Earth will ever be perfectly aligned on every issue, and there will be times and points of disagreement," Rubio stated.
"But on the core issues that matter, the core issues that define the national interests of both India and the United States, the alignment between our countries is extraordinary," he added.
Rubio underscored that the collaboration carries immense weight given the demographic and economic magnitude of the two powers, characterising India as a country nearing a population of 1.5 billion alongside the United States as the planet's largest economy.
He noted that the two countries possess a distinct prospect to contribute towards authoring the history of the 21st century by collaborating closely on matters destined to dictate tomorrow.
Furthermore, Rubio expressed the view that the United States ought to maintain more frequent diplomatic engagement with India, which he labelled among Washington's most vital geopolitical partners.
In February this year, India and the US announced a framework for an interim trade agreement aimed at improving market access and reducing trade barriers. According to the Commerce Ministry, the proposed agreement covers sectors including textiles, leather, engineering goods and pharmaceuticals, with several tariff concessions subject to its conclusion.
According to the Ministry of Commerce and Industry's official trade data, India's merchandise exports to the US stood at USD 87.31 billion in FY 2025-26, while imports amounted to USD 53.45 billion.
The proposed agreement is expected to provide greater certainty for exporters and businesses in both countries, although its final terms and implementation timeline are yet to be announced.