Modi, Vance Assert “Significant Progress” in Trade Talks, Trump Eyes India Visit

Prime Minister Narendra Modi and US Vice President JD Vance have welcomed the significant progress in the negotiations for a mutually beneficial India-US bilateral trade agreement (BTA). A statement from the Prime Minister's Office (PMO) also noted their continued efforts towards enhancing cooperation several trade sectors.

"They welcomed the significant progress in the negotiations for a mutually beneficial India-US Bilateral Trade Agreement focused on the welfare of the people of the two countries. Likewise, they noted continued efforts towards enhancing cooperation in energy, defence, strategic technologies and other areas," read the PMO statement.

"Prime Minister conveyed his warm greetings to President Trump and said that he looked forward to his visit to India later this year," it added. India is gearing up to host the Quad summit later this year.

Notably, Vance's four-day visit to India came amid uncertainties around a global trade war, unleashed by US President Donald Trump on April 2 and India's continuous efforts to eliminate those additional levies. His visit also coincides with  Finance Minister Nirmala Sitharaman's five-day trip to Washington DC.

Appreciating Modi as a great leader, Vance posted on X that he is looking forward to working under Trump’s leadership to strengthen India-US friendship and cooperation.

On April 23, a group of India's commerce department officials is also scheduled to hold a three-day discussion with their US counterparts in Washington DC.

India-US Trade

On April 2, Trump imposed a 26% levy on all Indian goods entering the US as part of his "reciprocal" tariff plans. Even as he called Modi a great friend, but criticised India for not "treating the US right."

The US is India's top export destination with a trade surplus of $41bn in FY25, a significant rise from $35bn in FY24. Trump has frequently highlighted and targeted countries that have a trade surplus with the US. It is reported that India is now looking for more imports from the US to balance the trade surplus.