India-US trade to touch $500 bn by '30

PRIME Minister Narendra Modi and President Donald Trump discussed trade and tariffs extensively during their meeting, focusing on market access issues linked to overcapacity in other regions that impact consumption in India and the US.

- JAYANTH JACOB @ New Delhi

The meeting between Modi and Trump took place just hours after Trump announced reciprocal tariffs saying that America's allies are worse than its enemies. "On trade and tariffs, Prime Minister Modi had extensive discussions with President Trump about the concerns on both sides related to market access, as well as issues arising from overcapacity in other regions that affect consumption in countries like India and the US," sources said.

At a joint press conference in Washington, PM Modi announced that New Delhi and Washington aim to more than double their bilateral trade to $500 billion by 2030. Modi also emphasised that both teams are working towards finalising a mutually beneficial trade agreement soon.