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Informist, Monday, Apr. 21, 2025

 

NEW DELHI – Prime Minister Narendra Modi on Monday met US Vice President J.D. Vance in New Delhi and reviewed the progress in various areas of bilateral cooperation, the Prime Minister's Office said in a release. "They welcomed the significant progress in the negotiations for a mutually beneficial India-U.S. 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," the release said.

 

India and the US agreed for a Bilateral Trade Agreement during Prime Minister Modi's visit to Washington, D.C. in February. The two countries are holding negotiations to seal a trade pact by this year. India is "expeditiously" looking to conclude the bilateral trade pact to escape the negative impact of the now paused 26% reciprocal tariffs on Indian goods exported to the US. These tariffs could affect growth of the country's exports as the US is India's top export market with a share of over 15% in total exports. According to the US Trade Representative data, India exported goods worth $87.4 billion to the US in 2024 and had a trade surplus of $45.7 billion.

 

The US is India's largest trading partner with an estimated goods trade of $129 billion in 2024. Both the countries have decided to further increase the bilateral trade to $500 billion by 2030.

 

Apart from bilateral ties, the discussion between the two leaders also covered various regional and global issues of mutual interest. They called for dialogue and diplomacy as the way forward, the statement read.

 

Vance, along with his wife Usha Vance, three children and senior members of the US administration, arrived in New Delhi on Monday. Before meeting Modi, the family visited the Akshardham Hindu temple. The US vice president, who is on his first visit to India, is scheduled to visit Jaipur and Agra before departing for Washington, D.C. on Apr. 24.  End

 

US$1 = INR 85.13

 

Reported by Kuldeep Singh

Edited by Ashish Shirke

 

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