Commerce and Industry Minister Piyush Goyal stated that India and the United States share one of the world's most consequential economic partnerships, built on shared democratic values.
Speaking at the launch event of the India-US Trade Facilitation Portal, the Union Minister said that the India-US partnership is special, and bilateral trade is growing rapidly. He added that the launch is a timely and forward-looking step, which will further boost digital initiatives such as the DGFT's Trade Connect portal, which reflects the depth and dynamism of the India-US partnership.
The Commerce and Industry Minister said that bilateral trade is growing rapidly towards the $500 billion ambition set by both sides. He emphasized that this growth must also benefit MSMEs, farmers, and fishermen, and become more inclusive. Mr. Goyal said that this era must focus on digital transformation and resilient supply chains to become more self-reliant.
Foreign Secretary Vikram Misri, along with the Ambassador of India to the US, Vinay Kwatra, launched the India-US Trade Facilitation Portal. The portal is another step towards unlocking the full potential of trade between India and the US. Speaking at the launch, the Foreign Secretary said that over the years, the India-US trade relationship has demonstrated exceptional resilience and dynamism.
Mr. Misri said that in just the last year, bilateral trade reached a record $241 billion, making it the fourth consecutive year that the United States has been India's largest bilateral trading partner. He added that this represents a growth of 15 percent, and it is remarkable that this growth has been achieved in the face of volatility. Mr. Misri said that this portal is timely, as both nations are pursuing the shared ambition of Mission 500, which aims to double bilateral trade to $500 billion by 2030.