What is the current status of India's trade relationship with the United States?

India's bilateral merchandise trade with the United States has grown significantly, showing an 8% increase to over $106 billion for the ten months through January. Merchandise exports to the US have risen to $68.47 billion from $62.84 billion a year ago, while imports have also grown. This expanding trade relationship is expected to benefit both nations, with officials working toward establishing a trade deal by fall 2025. The ambitious agreement targets reaching $500 billion in bilateral trade by 2030, reflecting the strategic economic partnership between the two countries.