India Can Easily Exceed USD 500 Billion US Goods Purchase: Goyal

• Commerce Minister Piyush Goyal states India will easily purchase over USD 500 billion in goods from the US over five years, calling the target 'extremely conservative'.
• The bilateral trade pact envisages India purchasing US energy products, aircraft, precious metals, technology, and coking coal.
• Goyal highlighted that India currently imports USD 300 billion worth of goods from other countries that could be sourced from the US, with this figure projected to grow.
• Demand for items like semiconductor chips, high-end machinery, data center equipment, and aircraft is increasing rapidly due to India's economic growth.
• India's lower reciprocal tariffs (18%) compared to competitors like China (35%) give Indian goods a competitive edge in the US market.