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US, India aim to double two-way trade to $500 billion by 2030

by Blitz India Media
February 17, 2025
in Tanzania
0
US, India aim to double two-way trade to $500 billion by 2030
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Prime Minister Narendra Modi returned to New Delhi on February 14 after successfully concluding his twonation visit to the United States and France. He met with President Donald Trump at the White House and discussed strategic India-US ties in various key areas.

“He is a great friend of mine. For a long time we’ve had a wonderful relationship,” Trump said as he greeted PM Modi in the Oval Office.

At a joint briefing after about fourhour long discussions, the two leaders addressed several key topics, including tariffs, the extradition of the 26/11 Mumbai attack accused TahawwurRana, illegal immigration and the Russia-Ukraine war.

According to AIR News, the two leaders jointly launched the US-India COMPACT for the 21st century. The COMPACT stands for Catalysing Opportunities in Military Partnership, Accelerated Commerce, and Technology. In the area of trade and investment, the leaders launched Mission 500, aiming to more than double the total two-way trade to 500 billion dollars by 2030.

Prime Minister Modi and President Trump also announced plans to negotiate the first tranche of a mutually beneficial multi-sector bilateral trade agreement by the fall of 2025 toward advancing this process.

The leaders announced plans to finalise a new 10-year framework for the US-India major defence partnership in the 21st century. This is a framework that will run from 2025 to 2035 and is expected to be finalised later this year.

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ABUJA: Nigerians are expressing outrage over a big jump in the price of mobile data charged by some of the country's major phone networks, reported BBC. MTN, the country’s largest operator, trebled the cost of one of its most popular weekly offers. Airtel has also increased its tariffs, said the BBC report. A price jump was expected as the telecom regulatory body had approved an increase, but in an announcement three weeks ago it said it had capped it at 50 per cent. The phone companies wanted to boost their revenue in order to cover rising costs. Nigerians have been living through a long cost-of-living crisis with inflation rates not seen for three decades. Any increase in prices adds to the struggle for many to make ends meet, added the BBC report. In response to customer complaints, MTN said on X that the price adjustment was necessary to serve subscribers better. "We apologise for any inconvenience caused,” the company added. Airtel is yet to comment. The BBC has contacted Airtel for more information on the changes. Many comments on social media called out the increase saying that it could cut off a lot of people at a time when the economy is in turmoil. One target for criticism has been the rise in MTN's 15GB weekly bundle from 2,000 naira ($1.33) to 6,000 naira ($3.99). "What sort of outrageous increase is that?... Just making sure the masses suffer more," one commenter on X said. "Triple the amount? The end time is near," another wrote. Subscribers are also complaining that MTN's 1GB bundle has more than doubled in price and Airtel has trebled the cost of a similar offer. People who use Globacom, the third largest network, say they have not been affected by increases. The Nigeria Communications Commission, which regulates the telecom companies, is yet to react to the price rises which in some cases appear to exceed the cap that it had recommended. Digital content creator Mubarak Uniquepikin told the BBC that the tariff hike could have a major impact for businesses that depend on being online.

Huge hike in data price sparks anger in Nigeria

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