Daijiworld Media Network – New Delhi
New Delhi, Jun 11: Deeper cooperation in the hydrocarbon sector could play a crucial role in helping India and the United States achieve their target of expanding bilateral trade to $500 billion by 2030, according to a report released by the US-India Business Council (USIBC) and Grant Thornton Bharat.
The report, titled Strengthening the India-US Energy Partnership: Unlocking Hydrocarbon Opportunities through Investment and Collaboration, said the energy relationship between the two countries is evolving beyond a traditional buyer-seller arrangement into a broader strategic partnership covering trade, investment, technology, infrastructure and energy security.
The study identified significant opportunities for collaboration across liquefied natural gas (LNG), crude oil, liquefied petroleum gas (LPG), ethane and propane, while also strengthening supply chains and enhancing energy security for both nations.
“The evolution of the India-US energy relationship reflects the broader trajectory of our bilateral partnership — moving from transactional engagement to deeper strategic integration,” Rahul Sharma, Managing Director of USIBC India, said.
“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 in the years ahead,” he added.
The report noted that India's rapidly growing energy demand and the United States' expanding hydrocarbon production offer new opportunities for cross-border investments and commercial engagement across the energy value chain.
Amit Kumar, Partner and Energy & Renewables Industry Leader at Grant Thornton Bharat, said the partnership is entering a new phase that extends beyond commodity trade.
“The India-US energy partnership is entering a new phase, one that extends beyond commodity trade to deeper collaboration across investment, technology, infrastructure and supply chains,” Kumar said.
“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,” he added.
Among its key recommendations, the report called for expanding bilateral hydrocarbon trade, creating a more predictable investment environment for energy companies and diversifying supply chains to enhance long-term energy security.
The report also proposed establishing an India-US AI-Powered Energy Task Force to accelerate the adoption of advanced technologies in the hydrocarbon sector, including energy forecasting, seismic analysis, exploration optimisation, predictive maintenance and digital twin technologies.
In addition, it advocated stronger cooperation on Strategic Petroleum Reserves (SPRs), including collaboration in storage infrastructure, emergency response planning, inventory management and reserve financing to improve energy resilience.
India is among the world's fastest-growing energy consumers, while the United States has emerged as a major exporter of crude oil and LNG. The report said closer alignment on policy, investment and technology could further strengthen energy ties and contribute to broader economic and trade goals for both countries.