India and US are targeting a four-fold jump in bilateral trade to 500 billion dollar in the near future.Speaking at the Atlantic Council US-India Trade Initiative Workshop in New Delhi, US Ambassador to India Richard R Verma exuded confidence that the goal will be met.<br/><br/>He however, said, there is a need to accelerate the pace to<br/>continue to liberalise markets and to improve investor confidence. <br/><br/>He said,Prime Minister Narendra Modi envisions a democratic India as a driver of the global economy adding that pivotal to this vision is the country's economic relationship with the United States.<br/><br/>Mr Verma said, the bilateral trade between the countries continues to grow and it has reached a record 107 billion dollar in 2015.He said, it is more than three times bigger than it was only 10 years ago. He also said, US bilateral investment to India has grown from a mere 8.5 billion dollar in 2005 to over 35 billion dollar last year.