The US Vice President and Indian Prime Minister are expected to discuss the US $45.6 billion trade deficit with India.
US Vice President JD Vance arrived in India on Monday and held a meeting with Indian Prime Minister Narendra Modi on a four-day visit.
The United States is India’s largest trading partner, but India’s support is a trade deficit of $45.6 billion between the two countries.
After the February 13 meeting, Trump said: “We can make up for the difference from the deficit with oil and gas sales (liquefied natural gas).
Randil Jaiswal, a spokesman for India’s Ministry of Foreign Affairs, told reporters on April 17.
The US and India are also exploring bilateral trade agreements.
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The White House noted that India had imposed a 70% tariff on imported cars, and that the US had previously imposed a 2.5% tariff on the same product.
During his visit to Washington, Modi said he was open to reducing tariffs on US goods, deporting Indian citizens living illegally in the US and purchasing more military equipment.
India’s 26% tariffs fell to 10% in disputed consultations.
Financial markets hampered after mutual tariffs were announced, but rebounded following Trump’s April 9 suspension. The S&P 500 scored 474.13 points or 9.52%, finishing at 5,456.90. This earned the highest one-day point gain on record and the largest one-day percentage gain since 2008.
Fighter jet decision
India has traditionally purchased much of its military hardware from Russia, but before that it was purchased from the Soviet Union.
The US hopes that the Indian Air Force will purchase Lockheed Martin F-35 fighter jets instead.
On February 13, during Modi’s visit, Trump told reporters: “We’re going to increase military sales to India by hundreds of millions of dollars. We’re opening up a way to ultimately offer India the F-35 stealth fighter.”
Vance’s visit and talks with Modi are expected to lay the foundation for a summit where Trump may attend later this year with Japanese and Australian leaders.
“India continues to work on moving forward with partnerships with the US in these domains,” Modi said.
Last month, Musk’s Starlink Company signed an agreement with two of India’s largest telecommunications companies to provide satellite-based internet services.
Several US companies, such as Apple and Google, have expanded their operations in India in recent years.
The banner welcomes US Vice President JD Vance and is tied to a pole on the streets of New Delhi, India on April 21, 2025. AP Photo
Vance’s wife, Usha Vance, is the daughter of Hindu Indian immigrants. The Vance family will visit the Taj Mahal and attend a wedding in Jaipur city.
Reuters contributed to this report.
