PM Modi, JD Vance hail 'significant progress' in trade talks
What's the story
PM Narendra Modi and United States Vice President JD Vance have both lauded "significant progress" in ongoing negotiations for a Bilateral Trade Deal (BTA).
The two discussed the matter during Vance's four-day visit to India.
The US has now officially announced the finalized Terms of Reference for negotiations, providing a roadmap for further discussions on shared economic priorities between the two countries.
Trade agreement
BTA to promote job creation, citizen well-being
The BTA is likely to promote a fair trade relationship between India and the US. It is an opportunity for both to negotiate a contemporary trade agreement aimed at job creation and citizen well-being.
The aim of the agreement is to increase bilateral trade and supply-chain integration in a balanced manner, to the benefit of citizens of both countries.
Modi's office also said the two leaders "noted continued efforts toward enhancing cooperation in energy, defense, strategic technologies and other areas."
Diplomatic relations
PM Modi invites Trump to Quad summit
On his part, PM Modi said he was looking forward to hosting former President Donald Trump at this year's Quad summit in India.
However, the US side didn't comment on the proposed visit of Trump to India, while acknowledging their "positive and successful" meeting in February.
Vance and his family were received by Union Minister Ashwini Vaishnaw after they arrived in Delhi Monday morning.
Defense exports
India, US assess progress in bilateral cooperation
PM Modi and Vance reviewed the progress across sectors of bilateral cooperation. They observed that efforts were ongoing to strengthen cooperation in energy, defense, and strategic technologies.
The US intends to increase its defense exports to India as a way to narrow its trade deficit with the country.
Cooperation in critical technologies and advanced modular reactors remains a top priority for India-US relations.
Global concerns
Modi and Vance discuss regional and global issues
PM Modi and VP Vance exchanged views on a range of regional and global issues of mutual concern. They reiterated the importance of dialogue as a means to resolve such concerns.
The two leaders also discussed the situation in Ukraine and Gaza, with PM Modi reiterating India's support for peace talks involving all stakeholders.