India's PM, VP Vance Say 'Significant Progress' Made Toward FTA
Vice President JD Vance issued a statement that said he and Indian Prime Minister Narendra Modi "welcomed significant progress in the negotiations for a U.S.-India Bilateral Trade Agreement (BTA) and formally announced the finalization of the Terms of Reference for the negotiations, laying down a roadmap for further discussions about our shared economic priorities."
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Vance's office said in an emailed report that the negotiation "presents an opportunity to negotiate a new and modern trade agreement focused on promoting job creation and citizen well-being in both countries, with the goal of enhancing bilateral trade and supply-chain integration in a balanced and mutually beneficial manner. Guided by their respective visions of ‘Amrit Kaal for India’ and ‘Golden Age for America,’ BTA is expected to create new opportunities of growth for workers, farmers, and entrepreneurs in both countries."
The prime minister said that he and Vance shared a positive assessment of progress "in various areas of bilateral cooperation. They welcomed the significant progress in the negotiations for a mutually beneficial India-U.S. Bilateral Trade Agreement focused on the welfare of the people of the two countries. Likewise, they noted continued efforts towards enhancing cooperation in energy, defence, strategic technologies and other areas."