India-US Trade Agreement: A New Chapter in Economic and Strategic Collaboration
The United States and India are nearing a groundbreaking trade agreement that has the potential to transform their economic and strategic alliance. Named "Mission 500," this initiative aims to increase bilateral trade from $190 billion to $500 billion by the year 2030. In addition to economic implications, it indicates a significant change in global geopolitics, the stability of supply chains, and advancements in technology. Economic Impacts of the Trade Agreement Boosting Bilateral Trade The agreement aims to dismantle tariff and non-tariff barriers, facilitating smoother trade flows. Indian sectors like pharmaceuticals, IT, agriculture, and textiles will gain enhanced access to U.S. markets, while American goods, such as machinery and agricultural products, will become more affordable in India, benefiting consumers. Agricultural Growth and Export Opportunities Indian agricultural exports to the U.S., currently valued at $4 billion annually, are poised for significant growth...