‘India-US trade can cross $500 bn’

Houston: The United States is India’s sixth largest energy trade partner and the growing bilateral trade has the potential to cross the $500 billion-mark from $200 billion at present, Petroleum Minister Hardeep Singh Puri has said.

The hydrocarbon trade between the two countries has reached $13.6 billion in 2023-24 — nearly double the figure from 2018-19, Puri said at a roundtable with energy companies.

The roundtable, held on the sidelines of the global energy conference Gastech 2024, here was attended by Mukesh Aghi, President and CEO of USISPF, and Consul General of India in Houston, D C Manjunath, among others.

Puri said that the US is now India’s sixth-largest energy trade partner, with hydrocarbon trade valued at $2.43 billion in the first two months of

FY 2024-25.