PM Modi said India and US have set a target of more than doubling bilateral trade.
New Delhi:
Prime Minister Narendra Modi and US President Donald Trump addressed a press conference on the last day of the former's two-day visit, issuing announcements pertaining to trade, immigration, defence, technology and crime.
Here are the key takeaways from the PM Modi-Trump presser:
- Trump announced the decision to extradite "one of the most evil people in the world" Tahawwur Rana, a convict in the 2008 Mumbai attacks that killed 166 people. "We're sending him back and more will follow because we have quite a few requests. We work with India on crime," he said.
- PM Modi said that India will take back any of its citizens living in the US illegally, while emphasising that efforts need to be made to end human trafficking. "The young, vulnerable and poor people of India are fooled into immigration. These are children of very ordinary families who are lured by big dreams and big promises," he said. He also said that India and US should make joint efforts to end the "ecosystem" of human trafficking.
- The US trade deficit with India is $100 billion, Trump said, adding that negotiations will be held to combat disparities unaddressed under the former president Joe Biden-led administration. "PM Modi has announced reduction of India's unfair tariffs that restrict access into the Indian market. We can make up the deficit by selling US oil and gas to India, which we have more than anyone in the world," he said.
- PM Modi said India and US have set a target of more than doubling bilateral trade to 500 billion dollars by 2030. "In the nuclear energy sector, we also talked about increasing cooperation in the direction of Small Modular Reactors," he said.
- Americans are familiar with President Trump's motto, Make America Great Again, or "MAGA", PM Modi said. "If I say in the language of America, developed India means Make India Great Again or "MIGA". When the United States and India work together, it means "MAGA" plus "MIGA", the "MEGA" Partnership for prosperity is formed. And this mega spirit gives new scale and scope to our goals, he added.
- US to increase military sales to India, ramping it up by billions of dollars. Ultimately, the US will provide F-35 stealth fighter jets, Trump said.
- One of the greatest trade route will be opened, which will run from India to Israel to Italy and then US. They will be connected with ports, railways and "many, many" undersea cables, Trump said.
- Trump's attack on "radical Islamic terrorism" made a comeback this term as he vowed to work with India like never before to confront the threat it poses.
- TRUST or Transforming Relationship Utilizing Strategic Technology will look at creating strong supply chains of critical minerals, advanced materials and pharmaceuticals. It has also been decided to launch a recovery and processing initiative for strategic minerals, like lithium and rare earth.
- The "NISAR" satellite, built in collaboration with "ISRO" and "NASA", will soon fly into space on the Indian launch vehicle.
- PM Modi invited American universities and educational institutions to open off-shore campuses in India.
