After bilateral meeting between Narendra Modi and Donald Trump, Foreign Secretary Vikram Misri details key initiatives
Washington, DC: Foreign Secretary Vikram Misri gave a thorough summary of the major initiatives that were started during the visit after Prime Minister Narendra Modi and President Donald Trump met bilaterally. He stated that the leaders launched Mission-500 in the trade and investment sector, which aims to more than double two-way trade to USD 500 billion by 2030.
He said that in order to speed up trade, technological development, and military alliances, the leaders introduced the US-India Compact for the 21st Century.
Furthermore, according to Misri, both presidents agreed to begin negotiations on a multi-sector trade agreement by the autumn of 2025, with the goal of bolstering trade in the products and services sector.
“Two leaders jointly launched the US-India compact for the 21st century for catalyzing opportunities in military partnership, accelerated commerce, and technology,” Misri said during a press conference on Thursday (local time). With the goal of more than doubling all two-way commerce to USD 500 billion by 2030, the leaders established Mission-500 in the trade and investment sector.
“By the fall of 2025, the two leaders also agreed to negotiate the first phase of a mutually beneficial multi-sector bilateral trade agreement,” the Foreign Secretary said. To improve bilateral trade in the products and services sector, both nations will adopt a coordinated strategy. Making greenfield investments in high-value sectors in each other’s nations has been reaffirmed.
The leaders also announced intentions to finalize a new 10-year framework for the US-India Major Defense Partnership, which would span from 2025 to 2035, Misri said.
“The leaders declared their intention to complete a new 10-year framework for the major defense relationship between the United States and India in the twenty-first century. The period covered by this framework is 2025–2035. Additionally, they decided to proceed with existing defense procurement talks for various platforms, such as coproduction partnerships and land and air systems. Additionally, an agreement was reached to start talks on the reciprocal defense procurement deal, according to Misri.
Notably, US President Trump welcomed PM Modi to the White House on Thursday (local time), and the two hugged each other.
Trump emphasized that the two countries’ connections would strengthen during his meeting with Prime Minister Modi on Thursday (local time).
In a statement to Trump on Thursday, Prime Minister Modi said he was happy to see him return to the White House for a second term and that he was certain the two nations would continue to develop their strategic alliance with the US with the “same bond, trust, and excitement.”
In his speech, Prime Minister Modi said that, after 60 years in office, the Indian people have also granted him the chance to serve them for a third consecutive term.
Since the beginning of President Donald Trump’s second term last month, Prime Minister Modi has made his first trip to the US.
Within three weeks after President Trump’s inauguration, PM Modi received an invitation to visit the US, making him one of the first few international leaders to do so.
