Def, trade deals to ease tariff sting

10-year defence framework, $500-billion mega trade deal in the works; India to get F-35 fighter jets

- JAYANTH JACOB

INDIA and the US on Friday decided to bolster their ties through a mega trade deal that will see bilateral trade hit an unprecedented $500 billion in five years and a new defence framework that will rekindle cooperation across space, air defence, missile, maritime, and undersea technologies.

Notably, India will get the coveted F-35 fighter jets from the US, which is keen to expand defence sales and co-production with India. New Delhi will also consider importing oil and gas from the US to narrow the trade deficit to a large extent.