India and the US have initiated ‘Mission 500,’ with an aim to increase bilateral trade more than two-fold to $500 billion by 2030. The ambitious mission was announced during Prime Minister Narendra Modi’s recent two-day US visit, where he and US President Donald Trump pledged to increase trade ties.
The mission is centered on increasing trade and investment to grow prosperity, enhance national security, promote innovation, and create jobs. One of the essential components of the strategy is to complete negotiations on the first part of a reciprocal Bilateral Trade Agreement (BTA) by autumn 2025. In support of this, senior representatives will be designated to ensure that the trade relationship is in line with the ‘COMPACT’ framework.
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Also, the US and India intend an integrated strategy for enhancing bilateral trade with a view to expanding market access, lowering barriers, and deepening supply chain integration in goods and services. COMPACT (Catalysing Opportunities for Military Partnership, Accelerated Commerce, and Technology) is intended to spur transformative change in areas of cooperation between the two countries.
