New Delhi, Feb. 18 -- In a significant development aimed at strengthening economic ties, Union Minister of Commerce and Industry Piyush Goyal announced that India and the United States are committed to increasing bilateral trade to USD 500 billion.

Additionally, both nations plan to finalise a "strong" trade agreement within the next 6-8 months.

The announcement follows Indian Prime Minister Narendra Modi's recent visit to Washington, where both countries reaffirmed their objective to more than double two-way commerce by 2030.

The first phase of a multi-sector bilateral trade agreement (BTA) is expected to be concluded by fall 2025.

Speaking at the CII's India-Qatar Business Forum meet, Goyal emphasised the enthusiasm among businesses...