Prime Minister Narendra Modi has spoken about an Indian version of 'Make India Great Again' (MIGA), inspired by US President Donald Trump's signature slogan 'Make America Great Again' (MAGA), which can turn into a mega partnership for prosperity of both countries.
"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," said Modi while addressing a joint briefing with Trump in the US.
"In America's language, it's Make India Great Again—MIGA. When America and India work together, this MAGA plus MIGA becomes a 'mega partnership for prosperity,' and this mega spirit gives new scale and scope to our objectives," the PM added.
As both leaders of the world's two biggest democracies met at the White House, matters including defense, trade and investment, energy security, technology and innovation, multilateral cooperation and people to people Cooperation took center stage. While Modi and Trump asserted their commitment to resolving trade imbalances amid Trump's so-called trade war calls, specific details on those commitments remain unclear.
An India-US joint statement released today stated that Trump and Modi launched a new initiative – the "U.S.-India COMPACT (Catalyzing Opportunities for Military Partnership, Accelerated Commerce & Technology) for the 21st Century” – to drive transformative change across key pillars of cooperation.
Bilateral Trade and Investment
According to the joint statement, the leaders set a new goal for bilateral trade, Mission 500, aiming to more than double total bilateral trade to $500bn by 2030.
Both sides welcomed early steps to demonstrate mutual commitment to address bilateral trade barriers including India's recent measures to lower tariffs on US products of interest such as motorcycles, ICT products and measures taken by the US to enhance exports of Indian mangoes and pomegranates to the nation.
Both leaders pledged to collaborate to enhance bilateral trade by increasing U.S. exports of industrial goods to India and Indian exports of labor-intensive manufactured products to the US. The two sides will also work together to increase trade in agricultural goods.
Defense Deals
To advance defense ties further, the leaders have announced plans to sign a new ten-year Framework for the US-India Major Defense Partnership in the 21st Century this year.
“Starting this year, we will be increasing military sales to India by many billions of dollars. We are also paving the way to ultimately provide India with the F-35, Stealth fighters," said Trump.
Furthermore, India will also be a part of an exclusive group of nations, permitting it to purchase the F-35, a stealth aircraft capable of supersonic flight without being detected.
Energy Security
The nations reaffirmed their commitment to increase energy trade, as part of efforts to ensure energy security. It will establish the United States as a leading supplier of crude oil and petroleum products and liquified natural gas to India.
They have also announced their commitment to fully realise the US-India 123 Civil Nuclear Agreement by moving forward with plans to work together to build US-designed nuclear reactors in India through large-scale localisation and possible technology transfer.
The leaders committed to enhancing investments, particularly in oil and gas infrastructure, and facilitating greater cooperation between the energy companies of the two countries.
Furthermore, The US appreciated India's role in development, humanitarian aid, and security in the Indian Ocean. Both countries agreed to strengthen cooperation and launched the Indian Ocean Strategic Venture to boost economic ties and trade.
Notably, Modi is only the fourth world leader to visit Trump since his return to the White House.
