India will be rich by 2030! Know what is 'Mission 500', announced after the Trump-PM Modi meeting.
PM Modi US Visit: Both leaders resolved to deepen US-India trade relations to promote growth that ensures fairness, national security, and job creation.
Prime minister narendra modi met with President donald trump on his US visit. In this important meeting held at the White House, a defense partnership with india was signed for the next 10 years along with the sale of F-35 fighter jets. In the meeting between PM narendra modi and President donald trump, a promise was also made to improve trade relations between the two countries.
US President donald trump said in a joint statement issued with PM Modi, 'From this year we will increase military sales to india by several billion dollars.' At the same time, india and America have announced 'Mission 500' to promote bilateral trade between the two countries. Let us know what is Mission 500 and what will be its impact on Indians.
What is India-US 'Mission 500'?
According to the press release issued by the Prime Minister's Office, under Mission 500, the target has been set to more than double the bilateral trade between india and the US to $ 500 billion by 2030.
According to the statement issued, both leaders have resolved to promote trade and investment to make their citizens more prosperous, countries stronger, economies more innovative and supply chains more resilient. According to the statement, they resolved to deepen US-India trade relations to promote growth that ensures fairness, national security, and job creation.
How will india become rich?
Along with this, recognizing the need for new, fair trade conditions to meet the ambitious goal of India-US Mission 500, prime minister Modi and President trump announced plans to negotiate the first installment of a mutually beneficial, multi-sector bilateral trade agreement (BTA) by 2025.
The two leaders committed to nominating senior representatives to negotiate this, who will also ensure that bilateral trade relations fully reflect the aspirations of the 'Compact'.
Also announced during PM Modi's visit, the Compact (Catalytic Opportunities for Military Partnership, Accelerated Commerce and Technology) is a new initiative to bring about 'transformational change in key pillars of cooperation' between the nations.
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