India, US Set $500 Billion Trade Target Under ‘Mission 500’
Strategic Economic Partnership Strengthens Amid Modi’s US Visit
New Delhi, February 15, 2025 – India and the United States have announced ‘Mission 500’, an ambitious initiative aimed at doubling bilateral trade to $500 billion by 2030. The announcement came during Prime Minister Narendra Modi’s visit to the US, where he met with President Donald Trump to discuss strengthening economic and strategic ties.
Modi, one of the first world leaders hosted by Trump in his second term, reaffirmed India’s commitment to an expanded trade and investment partnership with the US, underscoring the growing significance of the India-US Comprehensive Global Strategic Partnership.
What is Mission 500?
According to the Prime Minister’s Office (PMO), ‘Mission 500’ is designed to:
Boost trade and investment between India and the US
Encourage innovation and economic expansion
Enhance supply chain resilience and market access
“The leaders resolved to deepen the US-India trade relationship to promote fair growth, national security, and job creation,” the official statement read.
To achieve this, Modi and Trump have also committed to negotiating a Bilateral Trade Agreement (BTA) across multiple sectors, with the first phase expected by fall 2025.
Integrated Approach for Stronger Trade Relations
Under ‘Mission 500,’ India and the US will adopt an integrated trade framework, focusing on:
Strengthening trade in goods and services
Reducing tariff and non-tariff barriers
Expanding market access for businesses
Enhancing supply chain integration for economic stability
The US welcomed India’s tariff reductions on bourbon whiskey, motorcycles, ICT products, and metals, while India appreciated US efforts to expand agricultural exports, including alfalfa hay, duck meat, and medical devices. The US also facilitated exports of Indian mangoes and pomegranates, strengthening agricultural trade ties.
Boosting Investments and Job Creation
Beyond trade, investment cooperation remains a key pillar of India-US relations. Modi and Trump highlighted Indian investments in the US, totaling $7.35 billion, which are expected to generate over 3,000 high-quality jobs.
Hindalco’s Novelis: Expanding aluminum production in Alabama and Kentucky
JSW Steel: Strengthening operations in Texas and Ohio
Epsilon Advanced Materials: Developing battery materials in North Carolina
Jubilant Pharma: Expanding injectable drug manufacturing in Washington
These investments underscore India’s growing economic footprint in the US and the mutual benefits of the partnership.
A Stronger Economic Alliance for the Future
With ‘Mission 500’, Modi and Trump reaffirmed their shared vision for economic growth, committing to:
Fostering innovation
Enhancing job creation
Ensuring long-term economic prosperity
During the White House meeting, the leaders also launched the U.S.-India COMPACT initiative, which aims to deliver measurable economic and technological advancements across key sectors by the end of 2025.
With this initiative, India and the US are set to deepen their strategic alignment, reinforcing their commitments to economic growth, national security, and shared democratic values. As both nations embark on this ambitious trade expansion, ‘Mission 500’ marks a defining moment in Indo-US relations, setting the stage for a stronger, more resilient global partnership.
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