India, U.S. to double bilateral trade by 2030

Source – The Hindu, International Edition – Page No. – 1)

Trade Negotiations and Energy Cooperation

• India and the U.S. have agreed to negotiate the first part of a trade agreement by autumn 2025.

• India aims to increase energy purchases from the U.S. to address concerns about the trade deficit.

• The two countries have set a target to more than double bilateral trade to $500 billion by 2030 under ‘Mission 500’.

• India is expected to increase its energy imports from the U.S. from $15 billion to $25 billion in the near future.

• Both nations have agreed to collaborate on Small Modular (nuclear) Reactors to strengthen India’s energy security.

Border Issue with China

• The U.S. President has offered to assist India in managing its border tensions with China.

Defence Cooperation and Military Sales

• The U.S. is working towards providing India with F-35 stealth fighter jets in the future.

• A new decade-long framework for defence cooperation has been announced.

• India will procure six additional P-8I Maritime Patrol aircraft to improve surveillance in the Indian Ocean Region.

• The U.S. and India will reopen talks on a Reciprocal Defence Procurement (RDP) agreement to align their defence procurement systems.

• The U.S. will review its International Traffic in Arms Regulations (ITAR) to facilitate military technology transfers to India.

• The two sides announced the U.S.-India COMPACT (Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology) framework to strengthen cooperation in defence, commerce, and technology.

Technology and Indo-Pacific Security Cooperation

• A new initiative, the Autonomous Systems Industry Alliance, has been launched to enhance underwater domain awareness technologies in the Indo-Pacific.

• The U.S. and India will scale up joint production and partnerships in the Indo-Pacific region.

Conclusion

• The bilateral discussions covered a wide range of topics, including defence, trade, energy, and technology.

• Both countries are working towards strengthening economic ties while addressing security and geopolitical concerns.

• The agreements mark a significant step in deepening India-U.S. cooperation for the future.