PM Modi, JD Vance lay roadmap for trade talks, welcome progress

NEW DELHI: PM Narendra Modi and US Vice President JD Vance welcomed "significant progress" in the ongoing negotiations for a mutually beneficial bilateral trade agreement (BTA) focused on "welfare of the people of the two countries", as the PM hosted Vance, second lady Usha Vance and their children who are on a four-day visit to India.

The US said 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," an American readout of the meeting said.

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 US President Trump for the meeting.