With reference to the US-India 'Mission 500' and COMPACT initiatives launched in February 2025, consider the following statements: 1. Mission 500 aims to increase bilateral trade between the US and India to $500 billion by the year 2030. 2. The COMPACT initiative focuses exclusively on resolving agricultural tariff disputes. Which of the statements given above is/are correct?

Question

Accepted Answer

A. 1 only — Statement 1 is correct; Mission 500 targets $500 billion in bilateral trade by 2030. Statement 2 is incorrect; COMPACT stands for Catalyzing Opportunities for Military Partnership, Accelerated Commerce & Technology, covering broad defense and tech cooperation, not just agriculture.

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