US-India Trade Talks: Mission 500 Set To Boost Economic Ties

Commerce Minister Piyush Goyal and US Trade Representative Jamieson Greer engaged in discussions on a bilateral trade agreement, aiming to double trade to USD 500 billion by 2030. The talks focus on enhancing economic partnerships through the 'Mission 500' initiative, maintaining India's 'Viksit Bharat' approach.

In a significant development, Commerce Minister Piyush Goyal had a productive dialogue with US Trade Representative Jamieson Greer. The conversation focused on cementing a bilateral trade agreement that would be advantageous for both nations, reflecting India's 'Viksit Bharat' vision and their Comprehensive Strategic Partnership.

Minister Goyal's US visit comes on the heels of a directive by President Donald Trump and Prime Minister Narendra Modi, aiming to finalize an initial phase of a multi-sector Bilateral Trade Agreement by 2025. This endeavor intends to bolster commerce and economic ties between the two democracies.

In recent talks, President Trump and Prime Minister Modi committed to invigorating trade and investment links to make citizens more prosperous, fortify national economies, and enhance supply chain resilience. Aiming high with the 'Mission 500' initiative, they plan to more than double bilateral trade to USD 500 billion by 2030.

President Trump's focus remains on tariff reciprocity, signaling the US's intent to match tariffs imposed by partner countries, including India. This stance follows concerns about India's high tariffs, pressing for adjustments in pursuit of fair trade.

US Trade Secretary Howard Lutnick recently expressed interest in a comprehensive trade agreement with India, acknowledging the need for mutual cooperation. He emphasized the importance of a broad-based solution during his virtual address at the India Today Conclave.

(With inputs from agencies.)