India Can Source $500 Billion in Goods from US Over Time, Says Commerce Minister Piyush Goyal

The commerce minister said India would increasingly source goods from the United States where it emerges as a preferred supplier, especially in high-value segments such as advanced information and communication technology (ICT) products and graphics processing units (GPUs). Commerce and Industry Minister Piyush Goyal has said India sees “no difficulty” in sourcing goods worth $500 billion from the United States over time, as both countries move closer to formalising a trade agreement that would lower tariffs on a significant share of Indian exports. Speaking to CNBC-TV18, Goyal said India would step up purchases from the US in areas where it offers a competitive advantage, particularly advanced ICT products and GPUs, in addition to energy imports and aircraft. “We already have aircraft and equipment orders worth over $80 billion, and this figure is set to rise. Energy imports from the US, including coking coal, will also increase substantially,” he said. The remarks come amid expectations that the White House will issue an