India-US Energy Partnership Can Drive $500 Billion Trade Goal by 2030: USIBC-Grant Thornton Report

New Delhi: Deepening cooperation in hydrocarbons, energy infrastructure, technology and investments could play a pivotal role in helping India and the United States achieve their shared goal of expanding bilateral trade to $500 billion by 2030, according to a new report released by the US-India Business Council (USIBC) and Grant Thornton Bharat.

Titled Strengthening the India-US Energy Partnership: Unlocking Hydrocarbon Opportunities through Investment and Collaboration, the report highlights the transformation of the India-US energy relationship from a traditional buyer-seller arrangement into a broader strategic partnership encompassing trade, investment, infrastructure development, technology collaboration and energy security.

The study identifies significant opportunities to expand cooperation across liquefied natural gas (LNG), crude oil, liquefied petroleum gas (LPG), ethane and propane, while strengthening supply chain resilience and energy security for both countries.

Rahul Sharma, managing director of USIBC India, said the evolution of energy ties reflects the broader trajectory of India-US relations.

“The evolution of the India-US energy relationship reflects the broader trajectory of our bilateral partnership—moving from transactional engagement to deeper strategic integration. As trusted partners, India and the United States are uniquely positioned to collaborate across energy, technology and investment to strengthen energy security, support economic growth and create new pathways for expanding bilateral trade,” Sharma said.

Amit Kumar, Partner and Energy and Renewables Industry Leader at Grant Thornton Bharat, said hydrocarbons could emerge as a major catalyst for achieving the ambitious bilateral trade target.

“As India’s energy needs continue to grow and the United States expands its role as a leading energy producer, hydrocarbons can serve as a powerful catalyst for advancing the shared goal of $500 billion in bilateral trade by 2030,” Kumar said.

The report recommends action in three key areas: expanding bilateral hydrocarbon trade, creating a more attractive investment environment for energy companies, and diversifying supply chains to strengthen long-term energy resilience.

It also identifies substantial opportunities for US investments in India’s hydrocarbon sector, including upstream oil and gas exploration, LNG infrastructure, city gas distribution networks, gas-based power generation and petrochemical projects. Indian companies, meanwhile, are encouraged to increase their participation in the US energy sector through investments in LNG export facilities, shale resources and petrochemical feedstock chains.

Among its key recommendations, the report proposes the creation of an India-US AI-Powered Energy Task Force to accelerate the adoption of advanced technologies such as AI-driven energy forecasting, seismic interpretation, exploration optimisation, predictive maintenance and digital twin technologies.

The report also advocates deeper cooperation on Strategic Petroleum Reserves (SPRs), including collaboration on storage infrastructure, emergency response planning, inventory management and reserve financing to improve energy security and resilience against global supply disruptions.

According to the study, rising natural gas demand in India and expanding LNG export capacity in the United States create a unique opportunity for both countries to build one of the world’s most consequential energy partnerships. Aligning policy priorities, scaling investments and enhancing technology collaboration could unlock significant economic opportunities while advancing shared energy and trade objectives.