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 finalized the terms of reference for the trade negotiation — a vital step towards setting the road map for the final agreement.

He stated that President Trump aims to rebalance trade not just for India but also to pursue a stronger future with U.S. allies. Vance sees the agreement as helping create deeper, sustained collaboration among nations in energy, defense, and technology, which will be mutually beneficial to the U.S. and India.