Sergio Gore (Image Credit: ANI)

Speaking at an event organized by the American Chamber of Commerce, the envoy said the agreement will help strengthen supply chains, encourage new investments and support continued inclusive growth.Target of $500 billion trade by 2030“Our shared ambition to achieve $500 billion in bilateral trade by 2030 reflects the connectivity, built confidence and scale of opportunity between our economies. We stand at a remarkable moment,” he said, as reported by ANI.According to PTI, Gore also said that US President Donald Trump aims to facilitate bilateral trade in a way that creates attractive opportunities for American businesses and workers.Referring to India’s free trade agreement with the European Union being finalized in January, Gore said the negotiations took almost 19 years. However, he expressed confidence that the proposed India-US trade agreement could be concluded within a year and a half of the start of talks.“We are confident that this (India-US) trade agreement can be finalized in the coming weeks and months,” he said.Goyal highlights US investment commitment of $60 billionUnion Commerce Minister Piyush Goyal, who attended the event, said that India and America are emerging as natural partners with complementary strengths in all sectors.“The US and India are really working as natural partners. We complement each other. The US can offer very high caliber equipment in the areas of technology, innovation, high-precision defence, digital data centres, quantum computing and medical devices,” Goyal said.He further said, “Given the Amazon, Google data center investment pledges, the US commitment has crossed $60 billion in the last six months; US-India are truly working as natural partners, complementing each other.”India-US trade agreement talksThe outlines of the proposed interim US-India trade agreement were first outlined in a joint statement issued on February 7, however, a major change was seen following the US Supreme Court’s decision reducing reciprocal tariffs.Following the decision, the US imposed a 10 percent ancillary duty on imported goods under Section 122 of the Trade Act for a temporary 150-day period starting February 24.Additionally, Washington also initiated an investigation under Section 301 on issues related to industrial overcapacity and labor practices involving major exporting countries.Indian officials have already submitted formal responses to the investigation, while discussions between the two sides continue as negotiators work to resolve key outstanding issues before a final agreement.