US and India finalize terms for trade talks
US Vice President J.D. Vance has announced that the US and India have agreed on terms for bilateral trade negotiations, calling it a roadmap to a final deal.
Vance is currently in India, where he has held meetings with Prime Minister Narendra Modi and other key officials. Washington and New Delhi aim to substantially increase bilateral trade, with a goal of exceeding $500 billion by the end of the decade. The target was announced by President Donald Trump and Modi during the latter's visit to the US in February.
'I believe this is a vital step toward realizing President [Donald] Trump's and Prime Minister Modi's vision, because it sets a road map toward a final deal between our nations,' Vance said on Tuesday in the city of Jaipur.
The US also wants a deeper defense partnership with the South Asian power, the vice president stated, including co-production of munitions and equipment such as javelins and striker combat vehicles.
'We want to work together more. And we want your nation to buy more of our military equipment, which, of course, we believe is the best in class. American fifth generation F-35s, for example, would give the Indian Air Force the ability to defend your airspace,' Vance said.
When Modi came to the White House earlier this year, Trump noted that the US would like to increase weapons sales to India, and would eventually offer it its F-35 fighter jets.
He made the statement days after the F-35 faced off against Russia's Su-57 fighter at India's largest air show, Aero India, in Bangalore. Moscow presented the Su-57 in India for the first time, sparking intense interest from experts and the general public, according to Indian media reports.
Defense analysts say that the Su-57 boasts a number of advantages, including cost and opportunities for technology transfer for the Indian Air Force, which has relied on Russian systems for decades.
Vance also said the US wants to 'help India explore its own considerable natural resources,' including offshore natural gas and critical mineral supplies. During Modi's February US visit, Trump suggested that an easy way to balance trade would be to increase US exports of oil and gas to India – something Washington sees as a means of reducing New Delhi's reliance on Russian oil, as well as gas imports from the Middle East.
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