NEW DELHI, India – April 24, 2025 — U.S. Vice President JD Vance has signaled growing momentum in trade negotiations with India, hailing recent progress made during his four-day visit to the country. Vance emphasized the importance of deepening economic and strategic ties between Washington and New Delhi, urging India to increase its imports of American defense equipment and energy, while also calling for greater U.S. access to Indian markets.

In a joint appearance with Indian Prime Minister Narendra Modi on Monday, Vance confirmed that both nations had finalized the terms of reference for upcoming trade negotiations a key procedural milestone that lays the foundation for a comprehensive bilateral trade agreement.

“India is not only a vital partner in the Indo-Pacific, it’s central to our shared vision for a secure and prosperous global economy,” Vance said. “We’ve made meaningful progress on trade, and we are committed to moving forward together.”

The U.S. and India have set an ambitious target of more than doubling their bilateral trade volume to $500 billion by 2030. The potential deal is expected to include provisions to reduce tariffs, streamline regulatory processes, and enhance cooperation in sectors ranging from digital services to energy.

While negotiations are ongoing, both sides have expressed optimism that a final agreement could be reached before the end of the year. Analysts view the proposed trade pact as a major step in strengthening the U.S.-India strategic partnership amid shifting global economic alliances and increasing tensions in the Indo-Pacific region.

Vice President Vance’s visit comes as part of the Biden administration’s broader effort to reinforce economic ties with key allies and emerging powers in Asia, a region seen as critical to counterbalancing China’s growing influence.

More updates are expected as trade delegations from both countries continue their discussions in the coming weeks.