Amid trade deal talks, India-US move to deepen ties with ‘Mission $500 billion’ | Explained

India and the US announced 'Mission $500 billion' to deepen trade ties, aiming to increase bilateral trade to $500 billion by 2030.

India committed to buying over $500 billion in American products across sectors like energy and information technology.

The mission focuses on job creation, reducing trade barriers, expanding investments, and deepening supply chain integration.

The India-US trade deal would reduce tariffs on India from 50% to 18% and allow zero duties on exports like gems and pharmaceuticals once signed.

Negotiations are 99% complete, with hope for the deal to be signed by fall 2026 after a visit by US Trade Representative Jamieson Greer.