New Delhi:
US vice -president JD Vance, who is in India for a four -day visit, today met Prime Minister Narendra Modi for a closed door meeting. The meeting between the two leaders came at a time when the world is facing uncertainty on a fierce American-China trade war.
The meeting, after which the delegation-level talks were held, also comes at a time when India and the United States are in an advanced stage of negotiation to strengthen a bilateral trade deal that will benefit both countries.
President Trump, who placed 26 percent tariff above and above the last 10 percent tariff on Indian goods, has currently placed new “mutual” tariff on “poses” for 90 days – which is seen as a window to finalize the “win -win” trade deal between the distressed sides.
An important trade deal
India and the United States enjoy a special and privileged partnership and are widely seen as the patron of the democratic world, the largest and oldest democracy respectively.
The White House has stated that the Trump administration has placed its relations with India as a highest priority and is eager to make a business deal, which may be somewhat cushion for the trade war with China – which is the world’s largest item. Leaders in India have said that a trade deal was expected by autumn by autumn, but priority is being given to complete by the end of July – which is the extreme monsoon season.
However, India has made it clear that it would not be hurried in a deal, nor would it be forced to make a deal “at gunpoint”. A deal will be only when India takes into account the concerns, New Delhi has said.
According to Bloomberg, an anonymous official in New Delhi has said that this week the sector-specific trade discussions will take place soon after the meeting between PM Modi and JD Vance. The report also claimed that a new target can be set – to wrap the business negotiations by the end of May.
Finance Minister Nirmala Sitarman, who will soon be in Washington for a meeting of the IMF, will possibly hold an advanced level of talks with the senior American officials there to finalize the Indo-US trade deal.
American investment in India
India is also looking for a significant increase in investment from the United States in technology, manufacturing, automobiles and energy sectors.
Last week, Tech billionaire Elon Musk, who owns EV veteran Tesla and satellite internet firm Starlink Talked with PM Modi On a phone call. Later he indicated that he would be Tour of India later this yearIndicating the possibility of enterprise in the Indian market, where their companies are not particularly present – whether it is Tesla, SpaceX, or Starlink.
Last month, India and United States saw Major success in its civil nuclear cooperationThe US Energy Department gave a final approval, which allows an American company to jointly design and build nuclear power plants in India.
The American firm that was licensed was Holtek International. The ownership and promoted Indian-American entrepreneur Krishna P Singh is owned by the Global Energy firm. Its fully owned Asia’s subsidiary – Holtec Asia – has been working since 2010 and has been headquartered in Pune, where it also runs its special engineering division. It also has a manufacturing plant in Dahaj, Gujarat located in Bharach district.
According to reports, American firms aim to invest in India to increase their production line for gadgets such as laptops, tablets and mobiles. The purpose of American firms is to reduce its dependence on China and India has emerged as a favorable option in the region. India is already among the global leaders in mobile construction.
