What is India-US Mission 500 Economic Partnership?

India and the United States have set an ambitious target to expand their economic partnership under a plan known as “Mission 500.” The initiative aims to boost bilateral trade, double it between the two nations to $500 billion by 2030, reflecting a significant step in deepening commercial ties and fostering economic growth.

This huge initiative was highlighted during Prime Minister Narendra Modi’s visit to Washington, D.C., where PM Modi met the current U.S. President Donald Trump. The leaders agreed on measures to enhance trade talks, investment, and cooperation across multiple sectors between both the countries, signaling a commitment to stronger economic engagement.

Objectives of Mission 500

The primary goal of Mission 500 is to more than double current trade levels by 2030 by increasing market access for goods and services, reducing trade barriers such as tariffs and non-tariff restrictions, strengthening supply chain integration for smoother flows of products and materials, and fostering innovation and investment in high-tech industries and strategic sectors.

Bilateral Trade Agreement Plans

To support this expansion, India and the U.S. plan to negotiate a multi-sector Bilateral Trade Agreement (BTA). This agreement is intended to create fair trade conditions and accelerate collaboration across technology, manufacturing, and services. Senior officials from both sides will lead the discussions, aiming to finalize the first phase of the agreement by late 2025.

COMPACT Initiative

Complementing Mission 500 is COMPACT, whose full form is Catalyzing Opportunities for Military Partnership, Accelerated Commerce, and Technology. This framework seeks to boost defence cooperation and technology transfer between the countries. It also focuses on enhancing economic collaboration in strategic sectors to promote sustainable growth the benefit both the nations.

Long-term Implications

If successful, Mission 500 could reshape global trade dynamics, positioning India and the U.S. as stronger economic partners in the future. The plan also emphasizes job creation, economic resilience, and secure supply chains, making trade growth mutually beneficial while supporting domestic industries workers.