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 @ New Delhi

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.

Speaking to the media at a joint press meet after talks with US President Donald Trump, Prime Minister Narendra Modi said India and the US can have a MEGA partnership for prosperity by aligning Trump's MAGA (Make America Great Again) with his own MIGA (Make India Great Again).

Reflecting the tone and substance of their nearly four-hour meeting, which included formal talks, dinner, and a press conference, the joint statement issued after the meeting mentioned "cooperation" 18 times, "collaboration" 11 times, and "trade" 16 times.