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of <h1>India and US to Double Bilateral Trade to $500 Billion by 2030, Plan Multi-Sector Agreement by 2025</h1> India and the US aim to double bilateral trade to USD 500 billion by 2030, announcing plans for a comprehensive trade agreement to enhance market access and reduce duties. The leaders committed to a multi-sector Bilateral Trade Agreement by 2025 and pledged to address trade barriers. In 2023, bilateral trade stood at USD 190.08 billion, with a trade gap favoring India. Recent tariff reductions and increased market access for various products were acknowledged. Both nations will collaborate to boost exports and investments, despite uncertainties from new reciprocal tariff policies announced by the US.
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