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India and the United States have officially finalised the terms of reference for negotiations on a comprehensive bilateral trade agreement, according to US Vice President JD Vance. Speaking during his visit to Jaipur, Vance confirmed that both nations are advancing steadily toward a trade pact envisioned by former US President Donald Trump and Indian Prime Minister Narendra Modi. “What President Trump and Prime Minister Modi announced in February—that our countries aimed to more than double our bilateral trade to 500 billion dollars by the end of the decade—I know that both of them meant it,” Vance said.
Shared Priorities Guide Negotiations
Vice President Vance stated that both governments are actively working on a trade agreement based on mutual goals. “As many of you are aware, both of our governments are hard at work on a trade agreement on shared priorities like creating new jobs, building durable supply chains and achieving prosperity for our workers,” he said. Vance noted that during his meeting with Prime Minister Modi on Monday, both sides made significant progress on key areas.
Roadmap to Final Deal in Place
The US Vice President highlighted the strategic value of the announcement. “We are especially excited to formally announce that America and India have officially finalised the terms of reference for the trade negotiation. I think this is a vital step,” he said. “I believe this is a vital step toward realising President Trump’s and Prime Minister Modi’s vision because it sets a roadmap toward a final deal between our nations.”
Defending Trump’s Trade Approach
At the same event, Vance defended President Trump’s approach to global trade. He said the administration’s policies aim to rebalance trade ties and deliver mutual benefits. He also stressed the growing cooperation between the two countries, citing increased military exercises and joint efforts in advanced technologies as examples of deepening strategic ties.
(With Inputs From ANI)
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