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Home Breaking News

India-US Trade Tops $240 Billion; Marco Rubio Targets $500 Billion in Three Years

by Page 3 News International Desk
October 21, 2026
in Breaking News, India, USA, World News
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India-US Trade Tops $240 Billion; Marco Rubio Targets $500 Billion in Three Years
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Jaishankar calls for zero tolerance towards terrorism; US and India stress cooperation in technology, defence and Indo-Pacific security

MUMBAI: The United States and India have reaffirmed their commitment to strengthening strategic ties, with US Secretary of State Marco Rubio setting an ambitious target of taking bilateral trade beyond $500 billion within the next three years. The announcement came at a reception in Mumbai marking the 250th anniversary of American independence.

Addressing the Freedom 250 reception at the Jio Convention Centre, Rubio said the relationship between the two countries could play a defining role in shaping the 21st century. India’s External Affairs Minister Dr S. Jaishankar also underlined the importance of expanding cooperation in trade, investment, technology and energy.

US Special Envoy for South and Central Asia Sergio Gor said bilateral trade had crossed $240 billion, describing the figure as evidence of confidence in India’s economic prospects. He said the two countries were focused on pushing the figure beyond $500 billion over the next three years.

Gor highlighted opportunities in semiconductors, critical minerals, energy, defence and advanced artificial intelligence, describing the partnership as one with significant potential for further growth.

He also pointed to the substantial American business presence in Mumbai, noting that more than 500 major US companies operate in the city. American institutional investors, he said, represent the largest bloc of foreign capital invested in Indian equities.

‘21st century will be defined by this region’

Rubio said India and the United States needed to engage more frequently, describing India as a key geopolitical partner and emphasising the region’s growing global significance.

He said the 21st century would be shaped, for better or worse, by developments in the region, adding that the India-US relationship was helping demonstrate the positive possibilities of international cooperation.

Rubio identified artificial intelligence, superintelligence and quantum computing as areas of extraordinary technological change. He said both countries were aligned on harnessing emerging technologies for human benefit while mitigating their potential risks.

The US Secretary of State also stressed the importance of secure maritime routes and freedom of navigation, saying both countries supported a free and secure Indo-Pacific in which no nation could claim ownership or dominance over international shipping lanes.

He acknowledged that the two countries might disagree on certain issues but said their alignment on matters central to their national interests remained strong.

Rubio said the partnership offered an opportunity to shape the global economic and geopolitical landscape for generations to come, with shared values including democracy, the rule of law and respect for individual dignity.

Jaishankar calls for zero tolerance towards terrorism

Jaishankar said Mumbai was an appropriate venue for the celebrations because of its importance as India’s financial capital and its longstanding commercial, cultural and technological connections with the United States.

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He recalled the historical links between the two countries, citing cooperation in infrastructure, education, agriculture, food and technology. He also noted that Indian talent and skills had played an important role in shaping the American technology sector.

Highlighting the expansion of bilateral engagement in recent decades, Jaishankar referred to initiatives including the Quad, Mission 500, Pax Silica and the FORGE Initiative. He also pointed to growing cooperation in energy, defence and civil aviation.

Addressing the threat of terrorism, Jaishankar recalled the November 2008 Mumbai attacks, in which six American citizens also lost their lives. He thanked Rubio for laying a wreath at the 26/11 memorial at the Taj Hotel earlier in the day.

Jaishankar welcomed the US administration’s decision to extradite Tahawwur Hussain Rana, whom he described as one of the key perpetrators linked to the attacks. He said India was clear about its right to defend itself against terrorism and expected its partners to maintain zero tolerance towards the menace.

Focus on the next 250 years

Jaishankar said the international order was undergoing a transition, making it important for countries to identify common interests and expand areas of convergence.

He said new opportunities awaited India and the United States in trade, investment, technology and energy, while cooperation could also contribute to peace and stability in the Indo-Pacific.

The minister reaffirmed India’s commitment to advancing the strategic partnership and extended the country’s best wishes to the United States on the 250th anniversary of its independence.

The reception brought together senior officials, business leaders and other distinguished guests to celebrate the longstanding relationship between the two democracies. Gor said the two countries had much to look forward to in the next 250 years, raising a toast to America’s anniversary and the future of bilateral ties.

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Page 3 News International Desk

Page 3 News International Desk

The Page 3 News is a Multilingual Worldwide daily newspaper founded in 2021. It is published in Bangkok, Thailand by the Page 3 News Thai Limited Partnership. Page 3 News is available to the world in all the three formats i.e. e-Paper, digital and print. The Page 3 News is having offices in many countries like Thailand, India, Canada, USA, etc. and is currently published in English, Thai, Hindi and Punjabi languages.

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The Page 3 News is a Multilingual Worldwide daily newspaper founded in 2021. It is published in Bangkok, Thailand by the Page 3 News Thai Limited Partnership. Page 3 News is available to the world in all the three formats i.e. e-Paper, digital and print.

The Page 3 News is having offices in many countries like Thailand, India, Canada, USA, etc. and is currently published in English, Thai, Hindi and Punjabi languages.

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