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To achieve this goal, the leaders set a new adventure target mission 500 for bilateral trade, under which the aim is to increase the total bilateral trade from doubled to $ 500 billion by 2030. The two leaders admitted that this level of ambition would require new, fair-trade conditions.
India and the United States have set ‘Mission 500’ for bilateral trade. Prime Minister Narendra Modi and US President Donald Trump have resolved to deepen the trade relations of the countries during their two -day US visit, which concluded on Thursday. Prime Minister Narendra Modi is one of the first world leaders to host Donald Trump in the second term of the Republican leader, which began on 20 January.
What is India-America ‘Mission 500’?
To achieve this goal, the leaders set a new adventure target mission 500 for bilateral trade, under which the aim is to increase the total bilateral trade from doubled to $ 500 billion by 2030. The two leaders admitted that this level of ambition would require new, fair-trade conditions. For this, the two countries announced a plan to complete the negotiations on the first phase of the multi-regional bilateral trade agreement (BTA) mutually beneficial by the end of 2025. The statement said that the two sides are committed to nominate senior representatives to pursue these dialogues and ensure that trade relations are completely compact (generating opportunities for military partnership, quick commerce and technology) aspirations Reflection to
It said that this innovative, widespread bilateral trade agreement, the US and India will adopt an integrated approach to strengthen bilateral trade in the goods and services. At the same time, they will work towards increasing market access, reduce fees and non-fee obstacles and increase supply chain integration. Generally in the Free Trade Agreement (FTA), two business partners either eliminate or reduce the customs duty on maximum goods to be traded among themselves.
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