Washington: Foreign Secretary Vikram Misri Wednesday launched the India-US Trade Facilitation Portal as the two countries eye the USD 500 billion bilateral trade target.
Misri, who is on a three-day visit to the US, launched the portal at a virtual event that was attended by India’s Ambassador to the US Vinay Mohan Kwatra, officials and trade representatives from the two countries.
It will serve as a bridge, ensuring continuity and ensuring that existing supply chains are reinforced, and at the same time will enable new commercial linkages to emerge and grow, Misri said.
In a video message to the inaugural function, Commerce and Industry Minister Piyush Goyal urged exporters and businesses in India and the US to make greater use of the India-US Trade Facilitation Portal to boost bilateral trade.
He also said that the bilateral trade is growing towards the USD 500 billion mark, an ambitious target set by both sides.
Goyal said that the portal is a runway to the US for domestic services exporters, and it will also provide opportunities across businesses, from a farmer in Punjab to a jeweller in Surat and a software expert in Bengaluru to pharma firms in Telangana.
Misri Wednesday began his three-day visit to the US to meet with senior officials to review bilateral trade and defence relations and discuss global developments, including the crisis in West Asia.
Misri’s visit comes as both the US and India work to stabilise the ties after a spell of uncertainty and strain. The relations witnessed a major downturn after Washington imposed punitive tariffs on New Delhi and President Donald Trump made controversial assertions regarding his role in de-escalating the India-Pakistan military clashes last May.
In February, the US and India reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (Interim Agreement).
Misri noted the efforts of India’s Consulate General in New York in putting together the portal along with all the stakeholders, export promotion councils, industrial bodies, and government departments from India and the United States
In just the last year for instance, our bilateral trade reached a record USD 241 billion, making it the fourth consecutive year that the United States has been India’s largest bilateral trading partner, the foreign secretary said.
Misri said several B2B platforms exist already, but a dedicated India-US platform unlocks the full potential of this bilateral partnership.
This is especially timely as we re-engage on the shared bilateral ambition towards Mission 500, doubling our bilateral trade to 500 billion dollars by 2030, he said.
Misri said the portal reflects a broader evolution in the approach because governments are not merely facilitators and witnesses from the sidelines, but are actively stepping into the role of matchmakers connecting buyers and sellers, reducing friction wherever it might come up, and fostering trust.
