U.S. Vice President JD Vance held talks with Indian Prime Minister Narendra Modi on Monday as New Delhi looks to avoid American tariffs, negotiate a bilateral trade deal with Washington and strengthen ties with the Trump administration, AP reports.
Vance, who is on a largely personal four-day visit to India, met with Modi at his residence in New Delhi and the two leaders “reviewed and positively assessed the progress in various areas of bilateral cooperation,” Modi’s office said in a statement. They also “welcomed the significant progress” in the negotiations of an expected trade deal between the two countries, the statement said.
The U.S. is India’s largest trading partner and the two countries are now holding negotiations aiming to seal a bilateral trade agreement this year. They have set an ambitious target of more than doubling their bilateral trade to $500 billion by 2030. If achieved, the trade deal could significantly enhance economic ties between the two countries and potentially strengthen diplomatic ties as well.
The deal “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,” Vance’s office said in a statement.
Vance’s first visit to New Delhi came amid the backdrop of U.S. President Donald Trump’s now-paused tariff program against most countries, including India. It also coincides with a rapidly intensifying trade war between the United States and China, which is New Delhi’s main rival in the region.