Vance states US, India finalize conditions of trade discussions
(MENAFN) US Vice President J.D. Vance has announced that the United States and India have agreed on the terms for bilateral trade negotiations, marking a crucial step toward a final trade agreement. Vance, currently in India, met with Prime Minister Narendra Modi and other senior officials to discuss efforts to significantly increase bilateral trade. Both nations aim to surpass $500 billion in trade by the end of the decade, a target set by President Donald Trump and Modi during Modi’s visit to the US in February.
Vance emphasized that the agreement sets a roadmap for the eventual deal, in line with the vision outlined by President Trump and Prime Minister Modi. Additionally, he highlighted that the US seeks a deeper defense partnership with India, including co-production of advanced military equipment such as javelins and striker combat vehicles. Vance also expressed the US’s interest in selling more military hardware to India, notably American F-35 fighter jets, which he believes would enhance India’s air defense capabilities.
Vance’s comments follow discussions earlier this year between Modi and Trump, where the US President expressed a desire to increase weapons sales to India, including potentially offering the F-35 jets. This comes after the F-35 faced off against Russia’s Su-57 fighter at India’s Aero India air show in Bangalore, which sparked significant interest. Experts have noted that while the Su-57 offers advantages such as cost-efficiency and technology transfer, the F-35 is considered one of the most advanced fighters globally.
In addition to defense, Vance mentioned that the US also aims to assist India in exploring its natural resources, including offshore natural gas and critical minerals. During Modi’s February visit to the US, Trump suggested boosting oil and gas exports to India to reduce its reliance on Russian oil and gas from the Middle East, providing a new avenue to balance trade between the two nations.
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