U.S. and India aim to more than double bilateral trade to $500 billion in five years, Prime Minister Modi says

Indian Prime Minister Narendra Modi and U.S. President Donald Trump aim to more than double bilateral trade to $500 billion by 2030, with plans to work on a mutually beneficial trade agreement and cooperation in developing artificial intelligence and semiconductors. Trump signed a memorandum to impose “reciprocal tariffs” on nations like India, which currently has a trade surplus of $45.7 billion with the U.S. Efforts to address the trade deficit include the sale of oil and gas, potentially making the $500 billion trade target achievable according to Raghuram Rajan, former Reserve Bank of India governor.

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