Commerce and Industry Minister Piyush Goyal stated that India and the United States share one of the world’s most consequential economic partnerships, forged on shared democratic values.

 

Speaking at the launch event of the India-US Trade Facilitation Portal, the Union Minister said India-US partnership is special and bilateral trade is growing rapidly. The Minister said that the launch is a timely, forward-looking step, adding momentum to digital initiatives like 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 dollar ambition set by both sides. He said 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 Ambassador of India to the US, Vinay Kwatra, launched the India-US Trade Facilitation Portal. The portal is another step in the direction of unlocking the full potential of trade between India and US. Speaking at the launch, the Foreign Secretary said that over the years, the India-US trade relationship has demonstrated exceptional realist resilience and dynamism.

 

Mr Misri said in just the last year for instance, the bilateral trade reached a record 241 billion US dollars, making it the fourth consecutive year that the United States has been India’s largest bilateral trading partner. He added, this figure represents a growth of 15 percent and it’s remarkable that this growth has been achieved in the face of volatility. Mr Misri said that this portal is timely as both nations engage in the shared bilateral ambition towards Mission 500, doubling the bilateral trade to 500 billion US dollar by 2030.