His comments lent momentum to an expected bilateral trade deal.
Mr Vance, who is on a four-day visit to India, said that he and Prime Minister Narendra Modi made progress on trade talks during their discussions on Monday, and confirmed that both sides had finalised the terms of reference for the trade negotiation — a vital step towards setting the road map for the final agreement.
US Vice President JD Vance was speaking at the Rajasthan International Centre in Jaipur (Manish Swarup/AP)
India and the US hope to seal a bilateral trade agreement this year and have set an ambitious target of more than doubling their bilateral trade to 500 billion US dollars (£374 billion) by 2030.
If achieved, the trade deal could significantly enhance economic ties between both countries and potentially strengthen diplomatic ties as well.
“I believe there is much that India and America can accomplish together,” Mr Vance said at an event in the western city of Jaipur, where he, his wife Usha Vance and their three children were on a sightseeing tour.
Mr Vance’s first visit to New Delhi came amid the backdrop of US President Donald Trump’s partially-paused tariff programme against most countries, including India.
Earlier this month, Mr Trump announced a 90-day pause in which imports from most countries would face a baseline 10% tax so that there was time to hold talks and possibly structure broader deals.
The trade negotiations are especially urgent for India and could help New Delhi avoid sharp US tariffs.
Meanwhile, the Trump administration has portrayed its strategy of tariffs as forcing negotiations that could limit the reach and inf...
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