The United States aims to more than double its bilateral trade with India to over $500 billion within three years, US Ambassador to India Sergio Gor said at the Freedom 250 reception in Mumbai.
Addressing business leaders and diplomats, Gor said trade between the two countries had reached a record $240 billion, reflecting their growing economic partnership.
He said US President Donald Trump had given him a clear mandate to deliver tangible results and accelerate cooperation with India.
According to Gor, Trump and Prime Minister Narendra Modi recently reaffirmed their commitment to strengthening bilateral economic relations.
US Targets Growth In Semiconductors, Energy And Defence
Gor identified semiconductors, critical minerals, energy, defence and superintelligence as priority sectors for expanding economic engagement.
He described the India-US partnership as extending across several industries, from undersea digital infrastructure to manufacturing, scientific research and commercial space exploration.
The ambassador emphasised that cooperation between the two countries was expanding across traditional and emerging sectors.
Highlighting Mumbai's importance, Gor said more than 500 major American companies operated in the city.
These include technology companies Google, Meta and IBM, alongside consumer businesses Procter & Gamble and Johnson & Johnson.
He also mentioned pharmaceutical companies Pfizer, Abbott and Merck, and financial institutions Citi, Bank of America and JPMorgan Chase.
Gor said American institutional investors represented the largest single bloc of foreign capital in Indian equities traded on Mumbai's stock exchanges.
He described their participation as a strong indication of confidence in India's economic prospects.
Rubio Calls India-US Strategic Partnership Extraordinary
US Secretary of State Marco Rubio also addressed the gathering, describing the strategic alignment between Washington and New Delhi as "extraordinary".
Rubio said both countries had an opportunity to influence the direction of the 21st century through closer cooperation.
He acknowledged that India and the United States might not agree on every international issue.
However, he maintained that their shared interests could significantly shape geopolitics, economic relations, trade and commerce for decades.
The remarks highlighted Washington's intention to deepen engagement with India across economic, technological and strategic sectors.
The proposed $500 billion trade target reflects that ambition, although the specific measures needed to achieve it were not detailed.
