RNS: In a significant development, Indian Prime Minister Narendra Modi announced on Thursday that India and the United States have set an ambitious goal of doubling their bilateral trade to USD 500 billion by 2030. This target was discussed during Modi’s first meeting with US President Donald Trump since his inauguration on January 20.
Addressing the media, Modi stated, “Today, we have set a target of more than doubling bilateral trade to 500 billion dollars by 2030. Our teams will work on an early conclusion of a mutually beneficial Trade Agreement.”
The two leaders discussed a wide range of topics, including energy security, with Modi emphasizing the strengthening of oil and gas trade between the two nations. He assured that this would contribute significantly to India’s energy security and foster increased investments in energy infrastructure.
Further highlighting the growing cooperation between the two countries, Modi also spoke about advancing collaboration in the nuclear energy sector, with a focus on Small Modular Reactors. This move is seen as a step towards diversifying India’s energy sources.
Defense cooperation was also a major topic of discussion. Modi noted that the US has a crucial role to play in India’s defense preparedness. “In the coming time, new technology and equipment will increase our capability. We have decided to launch the Autonomous Systems Industry Alliance,” Modi said, outlining plans for new initiatives in defense technology. A new Defence Cooperation Framework will also be developed, with key areas including defense interoperability, logistics, and repair and maintenance.
In the tech sphere, Modi outlined plans for enhanced collaboration between India and the US in cutting-edge fields such as artificial intelligence, semiconductors, quantum computing, and biotechnology. Additionally, both countries will focus on strengthening supply chains for critical minerals, advanced materials, and pharmaceuticals.
A noteworthy initiative, named TRUST (Transforming Relationship Utilizing Strategic Technology), was also unveiled during the meeting. This initiative will focus on the recovery and processing of strategic minerals, including lithium and rare earth elements, to support technological advancements.
Modi described his meeting with President Trump as “excellent,” signaling an era of deeper bilateral ties and collaborative progress across multiple sectors.
