During U.S. Vice President JD Vance’s visit to India, Prime Minister Narendra Modi and the visiting leader praised the substantial progress made in bilateral trade negotiations, marking a potential turning point in India-U.S. economic relations. The leaders highlighted ongoing efforts to finalize a mutually beneficial trade agreement and reaffirmed their commitment to strengthening cooperation across key sectors, including defense, energy, and strategic technologies. Their meeting also touched on regional and global issues, underscoring a shared emphasis on diplomacy and dialogue.
India’s Prime Minister Modi and U.S. Vice President JD Vance Hail “Significant” Progress in India-U.S. Bilateral Trade Agreement Talks
New Delhi, April 21 — Indian Prime Minister Narendra Modi and U.S. Vice President JD Vance on Monday commended the “significant” progress made in trade negotiations between the two nations, signaling renewed momentum toward a long-anticipated bilateral trade agreement.
Vice President Vance, who is currently visiting India on a largely personal trip accompanied by Second Lady Usha Vance and their family, met with Prime Minister Modi in New Delhi to discuss key aspects of the U.S.-India strategic partnership.
According to an official statement from the Prime Minister’s Office, the two leaders “welcomed the significant progress in the negotiations for a mutually beneficial India-U.S. Bilateral Trade Agreement.” Their discussion also included a broader review of bilateral cooperation, with both sides expressing satisfaction over ongoing initiatives and reaffirming their commitment to deepening collaboration in key sectors such as energy, defense, and strategic technologies.
In addition to economic and strategic matters, Modi and Vance exchanged perspectives on a range of regional and global developments. Both underscored the importance of dialogue and diplomacy in addressing international challenges, reinforcing a shared commitment to a stable and rules-based global order.
The recent developments come amid a temporary easing of trade tensions. On April 2, India was subjected to a 26% reciprocal tariff, a move that was later suspended for 90 days by U.S. President Donald Trump on April 9, effectively reinstating a 10% baseline tariff during the negotiation period.
On Monday, U.S. Trade Representative Jamieson Greer announced that the Office of the United States Trade Representative and India’s Ministry of Commerce and Industry have finalized the terms of reference to establish a roadmap for negotiations on a reciprocal trade agreement.” Greer acknowledged ongoing concerns over a “serious lack of reciprocity” in the current trade relationship but welcomed India’s recent engagement. “India’s constructive engagement so far has been welcomed, and I look forward to creating new opportunities for workers, farmers, and entrepreneurs in both countries,” he stated.
The push for a stronger trade framework aligns with previous high-level commitments. During a February meeting, Prime Minister Modi and President Trump agreed to an ambitious target of more than doubling bilateral trade between New Delhi and Washington to $500 billion by 2030.
As of 2024, total goods trade between the United States and India stands at an estimated $129 billion, according to the Office of the U.S. Trade Representative. India maintained a trade surplus of $45.7 billion with the United States in the previous year.
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