Business

US and India Forge Ahead with Trade Deal to Narrow Economic Disparities

US and India Strengthen Trade Relations

US Trade Representative Jamieson Greer highlighted the potential of a new trade deal with India to reduce the trade gap between the two nations. Despite acknowledging a 'lack of reciprocity' in current trade relations, Greer expressed optimism about the ongoing negotiations.

Deal with India to help bridge trade gap: USTR

The discussions aim to open new markets for American products and tackle unfair practices affecting US workers. The constructive dialogue from India has been well-received, paving the way for mutual benefits for workers, farmers, and entrepreneurs in both countries.

Leaders Celebrate Progress

Following a meeting between US VP J D Vance and PM Modi, both leaders commended the advancements in the trade agreement. Vance announced the finalization of the Terms of Reference, marking a crucial milestone towards a comprehensive deal.

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Strategic Convergence and Future Opportunities

Indian officials emphasized the agreement's role in enhancing strategic ties and unlocking new economic opportunities. The deal is expected to foster prosperity and well-being, reinforcing the India-US partnership as a defining one for the 21st century.

Technical talks are set to begin soon, with both nations committed to expanding trade, technology, and economic ties in a mutually beneficial manner.