What is Mission-500?

Modi and Trump launched Mission-500 in the sector of trade and investment, aiming to double the trade between the two countries to $500 billion by 2030.

Giving more information on the initiative, Foreign Secretary Vikram Misri in a press briefing said that the multi-sector trade deal aims to bolster trade across all goods and services sector.

“Two leaders jointly launched the US-India compact for the 21st century, for catalysing opportunities in military partnership, accelerated commerce and technology. In the area of trade and investment, the leaders launched Mission-500, aiming to more than double total two-way trade to USD 500 billion by 2030,” Misri said.

“The two leaders also announced plans to negotiate the first tranche of a mutually beneficial multi-sector bilateral trade agreement by the fall of 2025. Both countries will take an integrated approach to strength bilateral trade across the good and services sector. There is a renewed commitment to making greenfield investments in high-value industries in each other’s countries,” Misri said.