India, June 11 -- Deeper cooperation in hydrocarbons could play a key role in helping India and the United States achieve their goal of expanding bilateral trade to USD 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 two countries' energy relationship is evolving beyond a traditional buyer-seller dynamic into a broader strategic partnership encompassing trade, investment, technology, infrastructure and energy security. The study identified opportunities to expand collaboration across liquefied natural gas (LNG), crude oi...