Narendra Modi and Trump have signed the world’s largest trade deal. The deal will be known as India-US Mission 500. The bilateral agreement is worth $500 billion. Such a large trade deal has never been signed in the world till date.
India-US trade will increase to $500 billion by 2030. It was also agreed to recognize $7.355 billion worth of Indian investments in the US and provide 3,000 high-quality jobs to India. Donald Trump described his talks with Modi as a big day and a day that will change the world.
The trade talks came in the backdrop of Trump imposing a 25 per cent tariff on global steel and aluminium imports, which will hit Indian exports. India and the US announced the TRUST (“Transforming the Relationship Utilising Strategic Technology”) initiative, which will facilitate partnerships on critical and emerging technologies between governments, academia and the private sector.
US-India AI roadmap to be finalized by year-end. Next-generation data centers and processing partnership announced. Agreement to enhance industry-academia collaboration in space, energy, and biotechnology. Expansion of Indian pharmaceutical manufacturing in the US, especially for critical drugs, was also agreed upon. India and the US signed a Strategic Minerals Recovery Initiative agreement to recover and process rare earth minerals, lithium, and cobalt for high-tech industries.
A Memorandum of Understanding (MoU) was also signed between the US National Science Foundation (NSF) and India’s Anusandhan National Research Foundation (ANRF) to enhance research collaboration in emerging technologies.
