Washington: Prime Minister Narendra Modi announced on Thursday that India and the United States have set a target of $500 billion in bilateral trade by 2030. He stated that teams from both nations would work together to finalize a mutually beneficial trade agreement.

Speaking at a joint press conference with US President Donald Trump, PM Modi drew a parallel between Trump's "MAGA" (Make America Great Again) motto and India's vision of "Viksit Bharat 2047", stating that their collaboration represents a "mega partnership for prosperity". He emphasized the growing economic ties between the two countries and the commitment to strengthening trade in oil, gas, and energy infrastructure.

"The people of America are well aware of President Trump's motto 'MAGA - Make America Great Again.' The people of India too are focusing on heritage and development as they move forward at a fast pace and with a firm resolve towards the goal of Viksit Bharat 2047. In the language of America, it's Make India Great Again - MIGA. When America and India work together, this MAGA plus MIGA becomes a 'mega partnership for prosperity.' Today, we have set a target to increase our bilateral trade to more than double, reaching $500 billion by 2030. Our teams will work on finalizing a mutually beneficial trade agreement soon," said PM Modi.

He further highlighted that India and the US are advancing in joint development, joint production, and technology transfer, particularly in sectors such as defense, energy, and nuclear power. The two leaders discussed cooperation on small modular reactors in nuclear energy, as well as increasing investments in energy infrastructure."America plays a key role in India's defense preparedness. As strategic and trusted partners, we are actively moving forward in the direction of joint development, joint production, and transfer of technology. In the coming days, new technology and equipment will increase our capacity," he stated.

Expressing gratitude for the warm welcome and hospitality, PM Modi praised President Trump’s leadership in strengthening India-US relations."First of all, I thank my friend Donald Trump for the warm welcome and great hospitality. President Trump has cherished the relationship between India and the US and made it lively through his leadership. During his first term, we worked together with great enthusiasm, energy, and dedication, which I experienced again today. In today’s discussion, we reviewed our achievements and deep mutual trust and resolved to achieve new goals," Modi added.

The two leaders shared a hug at the White House, with President Trump warmly greeting PM Modi, saying, "We missed you, we missed you a lot." Modi is among the first world leaders to visit the United States following Trump’s re-election, marking the strong strategic ties between the two nations.