‘India to buy over $ 500 bn goods easily’

India will face no difficulty in purchasing goods worth over USD 500 billion from the United States over the next five years, Commerce and Industry Minister Piyush Goyal has said, calling the figure “extremely conservative” for an economy aspiring to reach USD 30 trillion.

In an interview, Goyal said India’s fast-growing economy will generate massive demand for aircraft, aviation engines, energy products, semiconductors, data centre equipment and advanced technology, much of which the US is well placed to supply. He noted that India already imports goods worth USD 40–50 billion annually from the US and can easily scale this up as domestic demand expands.

According to the India-US joint statement on the first phase of a bilateral trade agreement, India plans to purchase US energy products, aircraft and parts, precious metals, technology products and coking coal over the next five years. Goyal said nearly USD 80–90 billion worth of aircraft and engine orders are already in the pipeline, with more expected as airlines expand fleets.

He added that India currently imports around USD 300 billion worth of goods from other countries that could potentially be sourced from the US, and overall imports are expected to touch USD 2 trillion in five years. With major investments planned in data centres, artificial intelligence, steel and critical manufacturing, demand for US technology and machinery will rise sharply.

On tariffs, Goyal said Indian exports face lower reciprocal tariffs in the US compared to China and several Asian competitors, giving Indian sectors such as textiles, leather, gems and jewellery a pricing advantage.