India-US Energy Partnership Can Drive USD 500 Bn Bilateral Trade Target by 2030, Says USIBC-Grant Thornton Bharat Report

India and the United States can significantly accelerate their journey towards achieving USD 500 billion in bilateral trade by 2030 through deeper cooperation in the energy sector, particularly hydrocarbons, according to a new report released by the US-India Business Council in collaboration with Grant Thornton Bharat.

The report, titled, 'Strengthening the India-US Energy Partnership: Unlocking Hydrocarbon Opportunities through Investment and Collaboration,' highlights the growing strategic importance of hydrocarbons in strengthening economic ties between the two countries. It notes that the India-US energy relationship is evolving beyond a traditional buyer-seller arrangement into a broader partnership encompassing trade, investment, technology, infrastructure development and energy security across the hydrocarbon value chain.

According to the report, significant opportunities exist to expand cooperation in liquefied natural gas (LNG), crude oil, liquefied petroleum gas (LPG), ethane and propane. Increased collaboration in these segments could unlock fresh investment opportunities, improve supply chain resilience and strengthen long-term energy security for both nations.

Rahul Sharma, Managing Director of USIBC India, said the evolution of the energy partnership mirrors the broader transformation of India-US relations from transactional engagement to strategic integration. He noted that both countries are well-positioned to collaborate across energy, technology and investment sectors to support economic growth, strengthen energy security and create new avenues for expanding bilateral trade.

Amit Kumar, Partner and Energy & Renewables Industry Leader at Grant Thornton Bharat, said that the partnership is entering a new phase that extends beyond commodity trade to deeper collaboration across investment, infrastructure, technology and supply chains. He said hydrocarbons could act as a key catalyst in advancing the shared objective of achieving USD 500 billion in bilateral trade by 2030 while strengthening industrial growth and long-term economic value for both countries.

The report outlines three key priorities to unlock the full potential of the partnership: expanding the scale and value of bilateral hydrocarbon trade, creating a more attractive and predictable investment environment for energy companies, and diversifying supply chains to improve long-term energy resilience.

The analysis identifies substantial opportunities for US companies across India's hydrocarbon ecosystem, including upstream oil and gas exploration and production, LNG infrastructure, city gas distribution networks, gas-based power generation and downstream petrochemical projects. At the same time, Indian companies could expand their footprint in the US energy sector through investments in LNG export terminals, upstream oil and gas assets, shale resources and petrochemical feedstock supply chains.

Among its major recommendations, the report proposes the creation of an India-US AI-Powered Energy Task Force to accelerate the adoption of advanced technologies across the hydrocarbon sector. Key focus areas would include AI-driven energy forecasting, seismic data interpretation, exploration optimisation, predictive maintenance and digital twin technologies for real-time asset monitoring and operational efficiency.

The report also calls for enhanced cooperation on Strategic Petroleum Reserves (SPRs), highlighting their growing role in protecting economies from global energy supply disruptions. It suggests greater collaboration in storage infrastructure, inventory management, emergency response planning and reserve financing to strengthen energy resilience and support broader bilateral energy security goals.

With India's natural gas demand expected to continue rising and the United States expanding its LNG export capacity, the report states that both countries are uniquely positioned to build one of the world's most significant energy partnerships. It concludes that closer alignment of policy priorities, greater investment flows and deeper technology collaboration could strengthen energy security, create new economic opportunities and support the shared ambition of achieving USD 500 billion in bilateral trade by the end of the decade.