‘US & India trade partnership will reach $500 billion by 2030’

MP, 31 Oct 2024, Kolkata: During an interactive session in Kolkata, on Wednesday, Kathy Giles-Diaz, Consul General, US Consulate General Kolkata, said that the objective of the United States government is to raise $500 billion of trade between the US and India from the current $200 billion, by the end of this decade. 

This ambition is to generate millions of jobs benefitting both the nations, said Kathy Giles-Diaz. She further highlighted that India is the third biggest FDI nation to the United States. 

This growing investment partnership reflects the increasing confidence of the Indian companies to have in the US economy, as well as expanding opportunities for collaboration in various sectors. 

This trend will accelerate further deepening of bilateral relationships and gaining new avenues in growth and innovations. 

Giles-Diaz stated that over 230 investors from India attended the United States Investment Summit ‘Select USA’ in 2024, making it the largest delegation in US Summit’s history. She further asserted that the United States and India are united in promoting global security, stability and prosperity through trade and investment to strengthen connectivity. 

She also said that it is noticeable that the Bengal government has been committed to de-carbonising the public transport system with the new electric vehicle policy, which is a significant effort to develop necessary EV infrastructure in the state. 

During the interaction Sanjay Budhia, Chairman, CII National Committee on EXIM and Managing Director, Patton International Ltd stated that India’s demographic dividend offers a vast market for American products and services, while American technological advancements can significantly support manufacturing capabilities. 

Furthermore, collaborations in areas such as the semiconductor industry and defence manufacturing highlight the strategic nature of these ties, enhancing both nations’ capabilities and addressing regional challenges. 

https://www.millenniumpost.in/bengal/us-india-trade-partnership-will-reach-500-billion-by-2030-585170