India, U.S. to double bilateral trade to $500 billion by 2030

• India and the U.S. agreed to negotiate the first segment of a trade agreement by autumn 2025.

• India plans to increase energy purchases from the U.S. to address U.S. President Donald Trump’s concerns about the U.S.’s trade deficit with India.

• The agreement covers defense, trade, energy, technology, multilateral cooperation, and people-to-people ties.

• The two sides agreed to more than double bilateral trade to $500 billion by 2030, as part of ‘Mission 500’.

• President Trump criticized India’s tariffs, calling them “unfair” and a “problem.”

• Trump stated the two sides agreed to negotiations to reduce the deficit, with the deficit to be made up with the sale of American oil and gas to India.