New Delhi: US Vice President JD Vance landed in Delhi for a four-day official trip along with his family. He was received warmly at the airport by Union Minister Ashwini Vaishnaw. This is a crucial time for the visit since the tax policies of President Donald Trump have been affecting the world’s economy, including India’s stock market.
Shooting for bilateral economic ties
During his visit, Vice President Vance will meet with Prime Minister Narendra Modi. The two leaders will talk about the most important fronts of trade and economy, as well as global affairs, with special emphasis on cooperation in the economic sector between India and America. This, according to India’s Ministry of External Affairs, will give both the countries a window to consolidate the relationship and prepare for further cooperation.
Want to Strike a Deal: India and the US
The visit comes just ahead of the finalisation of a trade deal between India and the US, likely to be a crucial driver of future economic relations between the two countries. With bilateral trade touching $190 billion, the US is the largest trading partner of India. The trip comes two months after Prime Minister Modi met President Trump in Washington to plan to deepen their partnership and talk about the effects of Trump tariffs on Indian merchandise. At that meeting, Modi had begun discussions aimed at alleviating the impact of elevated US tariffs on Indian products while India has started lowering tariffs on some American products. The US slapped a tax of 26% on the Indian goods, but this also came with a 90-day respite for India.
Earlier, during his US trip, Prime Minister Modi had earlier mentioned that India is ready to cut duties on goods from the US, take care of so-called illegal Indian immigrants in America and import defence hardware from the US. The two leaders had previously discussed strengthening trade ties, and JD Vance’s trip seems to be ahead in these talks.
Finalised Trade Agreement Negotiations
According to PTI, India and the US are preparing to freeze a deal that will likely address issues like taxation, market access, and other trade-related matters. Following talks between Prime Minister Modi and Vice President Vance, Vance will attend a dinner hosted by the Prime Minister. With Vance as part of his visit to India, there will be at least five senior US officials from both the Department of Defence and the State Department, sources have said.