US Vice President JD Vance and Indian Prime Minister Narendra Modi have hailed progress in talks over a commerce deal between the nations after assembly in New Delhi.
Vance, who’s at the moment on a four-day go to to India together with his spouse and kids, met with Modi at his residence in India’s capital on Monday.
The pair mentioned improved bilateral cooperation in varied areas reminiscent of vitality, defence and expertise, and “welcomed the numerous progress” within the negotiations of an anticipated commerce deal between the 2 international locations, Modi’s workplace stated in an announcement.
The White Home stated on Monday that Vance and Modi had laid down “a roadmap for additional discussions”.
Talking within the north-western Indian metropolis of Jaipur on Tuesday, Vance praised Modi and stated that the 2 international locations had finalised the phrases of reference for the commerce talks.
“I imagine that if India and the USA work collectively efficiently, we’re going to see a twenty first century that’s affluent and peaceable,” Vance stated, including that if this didn’t occur, it could imply a “darkish time for all humanity”.
The US is India’s predominant buying and selling associate, and their bilateral commerce was $129 billion (€113 billion) in 2024, with a $45.7 billion (€39.9 billion) surplus in favour of India, official US knowledge exhibits.
The international locations are aiming to extend bilateral commerce to $500 billion (€436 billion) by 2030.
New Delhi is searching for an early commerce cope with Washington towards the backdrop of tariff threats by US President Donald Trump. Earlier this month, Trump introduced a 90-day pause on his sweeping tariff regime towards almost all international locations, together with India.
India was set to face a 27% “reciprocal” tariff from the US earlier than the duties had been placed on maintain, with the pause ending on 9 July. The world’s most populous nation — like all different nations — is at the moment topic to a baseline levy of 10% by Washington.
Better collaboration
The US has lengthy sought to develop a deeper partnership with India, which is seen as a bulwark towards China.
India is searching for to market itself because the world’s manufacturing hub at a time when China faces significantly steep tariffs from Washington, with no signal of a détente taking place quickly.
Modi established a great working relationship with Trump throughout his first presidency, and he was one of many first leaders to go to the US president after his second time period began.
Throughout his go to in February, Modi hailed a “mega partnership” with the US, and kickstarted a negotiation course of to minimise the doable fallout of Trump’s tariffs.
Whereas Trump has praised Modi and known as him a “nice good friend”, he has additionally criticised India’s excessive tariffs, branding the nation a “tariff king” and a “huge abuser” of commerce ties.
The commerce negotiations are particularly pressing for India, above all within the agriculture, processed meals, automotive parts, medical gear and jewelry industries.
India can be a significant defence associate of the US, and in recent times it has embedded superior American jets, helicopters, missiles and army gear into its armed forces.
In his speech in Jaipur on Tuesday, Vance talked about Trump’s push to provide extra army gear to India.
“We, in fact, wish to collaborate extra,” Vance stated. “We wish to work collectively extra, and we would like your nation to purchase extra of our army gear.”
