India's sixth largest energy trade partner, the US, bilateral trade is growing and can increase from the current $200 billion to the $500 billion-mark. Petroleum Minister Hardeep Singh Puri said this at a roundtable session with energy companies.
The hydrocarbon trade between the two countries has reached $13.6 billion in 2023-24 -- nearly double the figure from 2018-19, Puri said at a roundtable with energy companies.
A roundtable discussion on the sidelines of the global energy conference Gastech 2024 here had Mukesh Aghi, President and CEO of USISPF, and Consul General of India in Houston D C Manjunath, among others.
The US is now India's sixth-largest energy trade partner, as hydrocarbon trade at $2.43 billion in the first two months of FY 2024-25.
He said this momentum also shows that the total bilateral trade between the two could rise from nearly $200 billion to more than $500 billion.
He spoke to stakeholders from US-India Business Council, US-India Strategic Partnership Forum, and industry leaders during his visit and underlined the importance of the US-India energy partnership.
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