PM Modi gave an overview of the two nations’ bilateral collaboration in a variety of fields, including artificial intelligence and defense.
India and the United States have committed to boost bilateral trade to $500 billion by 2030, according to Prime Minister Narendra Modi’s announcement on Thursday.
Following their bilateral discussions, PM Modi spoke at a joint press conference with US President Donald Trump, outlining the two nations’ bilateral cooperation in a variety of fields, including artificial intelligence and defense.
Taking inspiration from Trump’s “Make America Great Again” slogan, Prime Minister Modi stated that Viksit Bharat, or MIGA, stands for “Make India Great Again.”
“MIGA and MAGA together become MEGA partnerships for prosperity,” PM Modi stated.
By 2030, he said, both nations want to raise their bilateral trade to $500 billion. With $129.2 billion in bilateral trade between the two nations in 2024, the US is India’s biggest trading partner.
PM Modi said that both countries have pledged to ramp up oil and gas trade, renewable energy investments, and defense cooperation.
“America has a crucial role in India’s defense preparedness. Being a strategic and trusted partner, we are actively moving ahead in terms of joint development, joint production, and transfer of technology. In the future, new technology and equipment will enhance our capabilities. We have decided to launch the Autonomous Systems Industry Alliance. For the next decade, a defense cooperation framework will be formed,” PM Modi said.
Trump, during his address, announced that he and Modi reached an important agreement on energy that will restore America as a leading supplier of oil and gas to India.
“Hopefully, it will be their top supplier and a revolutionary step forward for the US nuclear industry. Additionally, India is changing its legal framework to allow the highest-level US nuclear technology to enter the Indian market. Millions of Indians would benefit from safe, affordable, and clean electricity as a result, and the US civilian nuclear business in India will receive tens of billions of dollars,” he stated.
Additionally, the US president stated that the United States is laying the groundwork for the eventual sale of F-35 fighter fighters to India.
Referring to the India, Middle East, and Europe (IMEC) corridor, he added that the United States and India have decided to collaborate in order to assist in constructing one of the biggest commerce routes in history.
“It will connect our partners, roads, railroads, and underwater cables as it travels from India to Israel to Italy and then to the US. It’s a significant advancement,” he stated.
