Modi Aims for $500 Billion US-India Trade Goal by 2030
WASHINGTON: Indian Prime Minister Narendra Modi announced on Thursday that India and the United States are working towards doubling their trade volume to $500 billion by 2030. This statement came after a high-level summit with US President Donald Trump, who also proposed selling advanced fighter jets to India.
Speaking at a joint press conference in Washington, Modi emphasized that both nations would collaborate in key sectors such as artificial intelligence and semiconductor development. He also highlighted the importance of building resilient supply chains for critical minerals.
Modi reaffirmed India’s commitment to strengthening trade ties with the US, underscoring the long-standing partnership between the two countries. He praised Trump as a friend and even adapted the American leader’s well-known slogan, “Make America Great Again,” to reflect their shared economic goals.
Trump, in turn, spoke of a “special bond” with Modi and India, acknowledging Modi’s strong negotiation skills. He also announced plans to enhance US-India military cooperation, including the potential sale of F-35 stealth fighter jets.
Expanding Military Ties
Trump revealed that the US would significantly increase military exports to India starting this year, amounting to billions of dollars in deals. He emphasized that the long-term goal includes providing India with advanced fighter jets like the F-35.
Trade and Tariffs Discussions
Despite warm diplomatic ties, economic tensions surfaced as Trump criticized India’s trade policies, calling its tariffs “unfair” and a “big problem.” However, he expressed optimism that both nations would negotiate a fair trade agreement. Modi assured that India and the US would work together on a mutually beneficial trade deal, with particular focus on energy cooperation, including oil and gas.
Elon Musk’s Role in US-India Relations
Tesla and SpaceX CEO Elon Musk also joined Trump’s meeting with Modi, fueling speculation about his role in US-India economic relations. Modi later held a separate one-on-one discussion with Musk, where they were photographed together along with Indian officials and children present on Musk’s side.
Modi, an active user of Musk-owned social media platform X, shared that he has known Musk since before becoming India’s prime minister.
Tariff Concessions and Immigration Cooperation
Ahead of his US visit, Modi’s government made tariff concessions, including reducing import duties on high-end motorcycles—a move that benefits Harley-Davidson, a brand whose struggles in India have previously frustrated Trump.
Additionally, India recently accepted a US deportation flight carrying 100 shackled migrants as part of Trump’s immigration crackdown. While the move sparked criticism from Indian opposition leaders, Modi defended it, stating that undocumented Indian migrants were often victims of human traffickers. He reiterated that India was fully prepared to repatriate any verified Indian citizens residing illegally in the US.
Extradition Agreement
During the press conference, Trump announced the upcoming extradition of Tahawwur Hussain Rana, a key suspect in the 2008 Mumbai attacks. Rana, a Canadian citizen of Pakistani origin, was convicted in 2011 and sentenced to 13 years in prison in the US. His extradition, pending a legal appeal, is expected to take place soon.
Strengthening Diplomatic Ties
Modi and Trump share similar political strategies, including a focus on nationalism and strong leadership. Their partnership was notably showcased in 2020 when Modi hosted Trump at a massive rally in Gujarat, where over 100,000 people welcomed the US president.
Looking ahead, Trump is expected to visit India later this year for the Quad summit, which includes the US, India, Japan, and Australia.
