Vance warns of 'dark times'

INDIA HOPES TO conclude a part of the deal within the 90-day pause on reciprocal tariffs by the US.

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"If India and the US work together successfully, we're going to see a 21st century that is prosperous and peaceful... But I also believe that if we fail to work together successfully, the 21st century could be a very dark time for all of humanity," he said.

He announced that India and the US have finalized the terms of reference for the BTA, setting "a roadmap toward a final deal." The US vice-president also heaped praises on Prime Minister Narendra Modi, a day after their meeting in New Delhi, and said the latter "is a tough negotiator. He drives a hard bargain."

In a statement issued after the Modi-Vance meeting, US Trade Representative Jamieson Greer highlighted the progress in the negotiations for the BTA, launched by Modi and US President Donald Trump in Washington in February.

However, the statement said, "There is a serious lack of reciprocity in the trade relationship with India."