Prime Minister Narendra Modi announced on Thursday (local time) that India and the US have set a target of $500 billion for bilateral trade by 2030. He stated that both nations’ teams will collaborate to finalize a mutually beneficial trade agreement.
Speaking at a joint press conference alongside US President Donald Trump, PM Modi highlighted the shared vision of both nations in achieving economic growth and prosperity. He linked Trump’s slogan “MAGA – Make America Great Again” to India’s goal of “Viksit Bharat 2047,” stating that the collaboration between the two countries will create a “mega partnership for prosperity.”
“The people of America are well aware of President Trump’s motto ‘MAGA – Make America Great Again.’ The people of India too are focusing on heritage and development as they move forward at a fast pace and with a firm resolve towards the goal of Viksit Bharat 2047. In the language of America, it’s Make India Great Again – MIGA. When America and India work together, this MAGA plus MIGA becomes a ‘mega partnership for prosperity’ and it is this mega spirit that gives new scale and scope to our objectives. Today, we have also set a target to increase our bilateral trade to more than double, reaching USD 500 billion by 2030. Our teams will work on finalizing very soon a mutually beneficial trade agreement.”
PM Modi further emphasized the strengthening of oil and gas trade between India and the US to ensure India’s energy security. He also announced deeper cooperation in the nuclear energy sector, particularly in the development of small modular reactors.
“We will strengthen oil and gas trade to ensure India’s energy security. In the energy infrastructure, investment will increase. In the nuclear energy sector, we spoke about deepening our cooperation, in the direction of small modular reactors. America plays a key role in India’s defense preparedness. As strategic and trusted partners, we are actively moving forward in the direction of joint development, joint production, and transfer of technology. In the coming days, new technology and equipment will increase our capacity.”
Expressing gratitude to Trump for the warm welcome and hospitality, PM Modi acknowledged the US President’s leadership in strengthening India-US relations.
“First of all, I thank my friend Donald Trump for the warm welcome and great hospitality. President Trump has cherished the relationship between India and the US and made it lively through his leadership. During his first term, we worked together, and the same enthusiasm, energy, and dedication I experienced today as well. In today’s discussion, we spoke about our achievements during his first term and deep mutual trust, and there was also a resolution to achieve new goals. We also believe that partnership and cooperation between India and the US together can shape a better world.”
Prime Minister Modi and President Trump shared a warm hug as they greeted each other at the White House. President Trump welcomed Modi with a handshake and remarked, “We missed you, we missed you a lot.”
PM Modi is among the first few world leaders to visit the US following Trump’s inauguration. He was invited within three weeks of the new administration taking office, highlighting the strong diplomatic ties between the two nations.