Transactional turn

• Prime Minister Narendra Modi’s visit to Washington was brief but significant.
• The visit marked the fourth world leader to hold bilateral meetings with U.S. President Donald Trump.
• Both sides launched ‘Mission 500’ ($500 billion in bilateral trade by 2030) and initiated discussions on a free trade agreement.
• Trump announced an increase in Indian purchases of U.S. energy, oil, and defense equipment to balance the $45.7 billion U.S. trade deficit.
• Agreement on a new framework, COMPACT, was agreed to streamline cooperation across key sectors.
• The Biden-era Initiative on Critical and Emerging Technologies (iCET) was rebranded as ‘Transforming the Relationship Utilising Strategic Technology (TRUST).’
• Trump approved the extradition of Tahawwur Rana, involved in 26/11 attacks, to India for trial.
• India must assess the broader takeaways from the visit, including the positive optics and camaraderie, continuity in strategic partnership areas, and potential challenges in the future.