PM Modi and JD Vance hail 'significant progress' in trade talks; PM says ready to host Trump this year

NEW DELHI: PM Narendra Modi and US Vice President JD Vance welcomed “significant progress” in the ongoing negotiations for a mutually beneficial Bilateral Trade Deal (BTA) focused on the “welfare of the people of the 2 countries,” as the PM hosted Vance, second lady Usha Vance and their children who are on a 4-day visit to India. According to the US, they formally announced the finalisation of the Terms of Reference for the negotiations, laying down a roadmap for further discussions about shared economic priorities.

Both sides backed an early conclusion of the agreement, which will allow India to stave off the threat from the Trump administration’s reciprocal tariffs , as Vance underscored the US pursuit of a fair and balanced trade relationship with India.

“The BTA presents an opportunity to negotiate a new and modern trade agreement focused on promoting job creation and citizen well-being in both countries, with the goal of enhancing bilateral trade and supply-chain integration in a balanced and mutually beneficial manner. Guided by their respective visions of ‘ Amrit Kaal for India ’ and ‘ Golden Age for America ,’ BTA is expected to create new opportunities of growth for workers, farmers, and entrepreneurs in both countries,’’ said an American readout of the meeting.

There was also talk about the Quad summit that India will host later this year and PM Modi said he was looking forward to hosting Trump for the meeting. However, while the US readout recalled the “positive and successful” meeting between PM Modi and Trump in February, it was silent on the proposed Trump visit to India.

Vance and family, accompanied by senior US officials, landed in Delhi on Monday morning and were received at the airport by union minister Ashwini Vaishnaw. The delegation left for Jaipur after the dinner meeting with PM Modi, which was described by the Vance delegation as pleasant and productive, in the evening.

According to an Indian statement, PM Modi and Vance reviewed and positively assessed the progress in various areas of bilateral cooperation, while taking note of continued efforts towards enhancing cooperation in energy, defence, strategic technologies and other areas. The US is looking to ramp up its defence exports to India, hoping it will help bridge its trade deficit with India. Cooperation in critical and emerging technologies, and also small and advanced modular reactors, is also on top of the Indian agenda with the US.

The two leaders also exchanged views on various regional and global issues of mutual interest and called for dialogue and diplomacy as the way forward, according to the Indian government. There was a discussion on the situation in both Ukraine and Gaza, with the PM reiterating India’s support for peace talks involving all stakeholders.

PM Modi was said to have fondly recalled his visit to the US in February, within weeks of Trump’s return to the White House, and his “fruitful discussions with President Trump which laid down the roadmap for close cooperation between India and the US, leveraging the strengths of Make America Great Again (MAGA) and Viksit Bharat 2047”. The US side too recalled that during that meeting, the leaders had reaffirmed the strength of the India-US Comprehensive Global Strategic Partnership and jointly launched the India-U.S. COMPACT (Catalyzing Opportunities for Military Partnership, Accelerated Commerce & Technology) for the 21st Century, an initiative anchored in mutual trust, shared interests, goodwill, and robust engagement of their citizens.

“Prime Minister extended his best wishes to the Vice President, Second Lady and their children for a pleasant and productive stay in India,’’ said the Indian government.