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US President Donald Trump met with Prime Minister Narendra Modi on the sidelines of the G7 Summit in France, with both leaders discussing trade, regional security and the future of bilateral ties. Trump said the two countries were working on closing a trade agreement.
Trade ties remain under strain: The meeting was the first between the two leaders since Trump imposed steep tariffs on India. Relations have since faced other headwinds: Washington's whiplash on India's purchases of Russian oil and differences over regional geopolitics. Despite the tensions, both have continued efforts to rebuild economic engagement.
Why it matters: Modi used the meeting to raise concerns over the safety of Indian seafarers working in the Strait of Hormuz following the deaths of three Indian sailors after recent US strikes on commercial vessels. The meeting is part of a renewed campaign to stabilize India-US ties after months of friction.
UK-India trade pack to kick off in July
The UK and India have agreed to bring their long-awaited FTA into force on 15 July after resolving concerns over the UK’s upcoming steel safeguard measures, which had delayed implementation, Reuters reports. The pact, inked last year, is expected to increase bilateral trade by USD 34.4 bn and boost UK GDP by USD 6.5 bn over the long term. The implementation follows talks between Prime Minister Narendra Modi and UK Prime Minister Keir Starmer on the sidelines of the G7 Summit.
India-EU free trade pact heads for year-end signing
The EU and India are set to formally ink their long-awaited FTA by the end of 2026, European Commission President Ursula von der Leyen said after meeting Modi at the G7 Summit, Reuters reports. The agreement, finalized in January, will eliminate or reduce tariffs on 96.6% of goods traded between the two sides by value. Once signed, the agreement is expected to enter into force in 2027, opening greater market access across manufacturing, automobiles, chemicals, pharmaceuticals and consumer goods.
