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The Terms of Reference have been set for a new India-U.S. trade agreement. Vice President JD Vance celebrated the announcement on X, and shared his speech on the subject.
The US and India are hard at work on a trade agreement built on shared priorities, and I’m excited to announce that we have officially finalized the Terms of Reference for our trade negotiations.
— Vice President JD Vance (@VP) April 22, 2025
This agreement is a vital step toward a final deal between our nations. pic.twitter.com/nptw7P7X6J
During the reveal, he noted President Donald Trump’s and Indian Prime Minister Narendra Modi’s February commitment to increase trade between the nations and further their shared interests.
“Both of our governments are hard at work on a trade agreement built on shared priorities like creating news jobs, building durable supply chains, and achieving prosperity for our workers.”
He then formally announced that the Terms of Reference for the trade negotiation have been set. “I believe this is a vital step toward realizing President Trump’s and Prime Minister Modi’s vision because it sets a roadmap toward a final deal between our nations.”
“I believe there is much that America and India can accomplish together,” he concluded.
According to the Economic Times India’s IT incentive production plan is giving their hardware industry a boost, offering options in a market that has been dependent on Chinese components for years. Laptop production in India is expected to offer alternatives to Chinese products amid President Trump’s trade war with China.
Prime Minister Modi welcomed Vance and heralded trade progress, posting pictures of the meeting and writing, “We are committed to mutually beneficial cooperation, including in trade, technology, defence, energy and people-to-people exchanges.”
Pleased to welcome US @VP @JDVance and his family in New Delhi. We reviewed the fast-paced progress following my visit to the US and meeting with President Trump. We are committed to mutually beneficial cooperation, including in trade, technology, defence, energy and… pic.twitter.com/LRNmodIZLB
— Narendra Modi (@narendramodi) April 21, 2025
“India-US Comprehensive Global Strategic Partnership will be a defining partnership of the 21st Century for a better future of our people and the world,” he added.
