NEW DELHI — U.S.-India trade is entering a high-growth phase and could reach $500 billion by 2030, driven by stronger supply chains, technology cooperation and deeper integration across manufacturing and services, according to a new report.
The report, from KPMG in India and AMCHAM, said bilateral trade has grown steadily in recent years. India’s cumulative exports to the U.S. reached $87.3 billion in fiscal 2026, accounting for 20% of the country’s total merchandise exports.
Electronics, textiles, pharmaceuticals, machinery and gems and jewelry remain key pillars of trade between the two countries.
“As global value chains realign, India’s scale, cost advantage and talent base position it as a trusted partner for U.S. businesses. The next phase will be defined by execution, translating policy momentum into resilient, long term economic outcomes,” said Neeraj Bansal, Partner and Head- India Global, KPMG in India.
The report said strong momentum in electronics, pharmaceuticals and high-value services has shifted the focus toward execution, including tighter supply links, regulatory consistency and more predictable market access.
It described the U.S.-India corridor as an emerging engine of global growth, supported by rising trade volumes, expanding sector ties and closer strategic alignment in manufacturing, technology, energy and talent mobility.
Manoj Kumar Vijai, Non-Executive Chairman, Office Managing Partner, Mumbai, said the next step is to strengthen supply chains, improve market access and ensure regulatory predictability as opportunities expand in manufacturing, energy and technology.
India supplies nearly 40% of generic drugs used in the U.S., underscoring its role in global healthcare supply chains, the report said.
The report said logistics, regulatory alignment and common standards will be critical to deeper economic integration. It also identified semiconductors, defense and clean energy as major areas for the next wave of growth, along with manufacturing integration, technology assurance, MSME value-chain upgrades and energy security. (Source: IANS)
