New Delhi, Apr 21 (PTI) India and the US said Monday that they made "significant progress" in negotiations for a mutually beneficial bilateral trade pact as Prime Minister Narendra Modi and US Vice President JD Vance held wide-ranging talks focusing on boosting cooperation in areas of defence, energy and strategic technologies.

The talks took place hours after Vance, accompanied by Indian-origin Second Lady Usha Chilukuri, and their three children -- sons Ewan, Vivek and daughter Mirabel, landed in Delhi on a largely personal four-day visit to India that comes amid growing global tensions over the US's tariff war.

The White House said Vance and Modi welcomed "significant progress" in the negotiations for the trade pact and formally announced the "finalisation of the terms of reference" for the negotiations, laying down a roadmap for further discussions about our economic priorities.

Following the talks, Modi hosted Vance and his family over dinner at his 7 Lok Kalyan Marg residence that was also joined by several Union Cabinet ministers and American officials.

The prime minister's office said Modi conveyed to Vance his warm greetings for President Donald Trump and said that he looked forward to his visit to India later this year.

In a social media post, Modi said the India-US comprehensive global strategic partnership will be a defining partnership of the 21st century for a "better future of our people and the world".

"Pleased to welcome US @VP @JDVance and his family in New Delhi. We reviewed the fast-paced progress following my visit to the US and meeting with President Trump," he said.

"We are committed to mutually beneficial cooperation, including in trade, technology, defence, energy and people-to-people exchanges," he added.

New Delhi and Washington are holding negotiations to seal a bilateral trade agreement (BTA) as agreed during Modi's talks with Trump in Washington DC in February.

The trade pact is expected to address a variety of issues including tariff and market access. India is looking at firming up the first tranche of the trade pact before Trump's pause on the customised reciprocal tariffs lapses.

The White House said the trade pact (BTA) "presents an opportunity" to negotiate a new and modern agreement focused on promoting job creation and citizen well-being in both countries, with the goal of enhancing bilateral trade and supply-chain integration in a balanced and mutually beneficial manner.

"Guided by their respective visions of 'Amrit Kaal for India' and 'Golden Age for America,' BTA is expected to create new opportunities of growth for workers, farmers, and entrepreneurs in both countries," it said.

In a post on 'X', Vance said: "It was an honor to see Prime Minister Modi this evening. He’s a great leader and he was incredibly kind to my family." "I look forward to working under President Trump’s leadership to strengthen our friendship and cooperation with the people of India!" he said.

Modi and Vance, who last met on the margins of the AI Action Summit in Paris in February, also exchanged views on various regional and global issues of mutual interest including the Russia-Ukraine conflict, and called for "dialogue and diplomacy" as the way forward.

The Indian readout said Modi and Vance "reviewed and positively assessed" the progress in various areas of bilateral cooperation.

"They welcomed the significant progress in the negotiations for a mutually beneficial India-US Bilateral Trade Agreement focused on the welfare of the people of the two countries," it said.

"Likewise, they noted continued efforts towards enhancing cooperation in energy, defence, strategic technologies and other areas," it noted.

It said Modi "fondly recalled his visit to Washington DC in February and his fruitful discussions with President Trump, which laid down the roadmap for close cooperation between India and the US, leveraging the strengths of Make America Great Again (MAGA) and Viksit Bharat 2047".

It further said Modi and Vance also "exchanged views on various regional and global issues of mutual interest, and called for dialogue and diplomacy as the way forward".

"The prime minister conveyed his warm greetings to President Trump and said that he looked forward to his visit to India later this year," the Indian readout said.

Trump is expected to visit India later this year to attend the annual summit of the Quad grouping.

"The prime minister extended his best wishes to the Vice President, Second Lady and their children for a pleasant and productive stay in India," the readout added.

Vance and his family are also visiting Jaipur and Agra.

Last month, US assistant trade representative Brendan Lynch visited India and held talks with his Indian interlocutors on firming up the BTA.

The US president's tariff tussle has stoked fears of a global trade war.

Days after announcing the reciprocal tariffs, Trump announced a 90-day pause on them for all countries, except China.

Washington is also pushing New Delhi to buy more American oil, gas and military platforms to bring down the trade deficit that stands at around USD 45 billion in India's favour.

In its statement, the White House also referred to the "positive and successful" meeting between President Trump and Prime Minister Modi in Washington earlier this year.

"During that meeting, the two leaders reaffirmed the strength of the India-US Comprehensive Global Strategic Partnership and jointly launched the India-US COMPACT (Catalyzing Opportunities for Military Partnership, Accelerated Commerce & Technology) for the 21st Century," it said.

It said Vance's visit provided an opportunity for both sides to review the progress achieved in bilateral relations and the implementation of the outcomes of the India-US Joint Statement issued following Modi-Trump talks on February 13.

External Affairs Minister S Jaishankar, NSA Ajit Doval and Principal Secretary (II) to PM Shaktikanta Das were part of the Indian delegation at the talks.

The US Vice President and his family landed in Delhi after their trip to Italy over the weekend.

The Vances visited the Akshardham temple near the banks of Yamuna and the Central Cottage Industries Emporium (CCIE) in Janpath.

Vance is the first US vice president to visit India in 12 years after Joe Biden visited New Delhi in 2013.

On April 22, the Vances will visit a number of historical sites in Jaipur including the Amer Fort, also known as Amber Fort. The fort is a UNESCO world heritage site.

In the afternoon, the US Vice President is scheduled to address a gathering at the Rajasthan International Center in Jaipur.

Vance is expected to delved into broader aspects of India-US relations under the Trump administration during his speech that is expected to be attended by diplomats, foreign policy experts, Indian government officials and academia.

The US Vice President and his family will travel to Agra on the morning of April 23, people familiar with the matter said.

In Agra, they will visit the Taj Mahal and Shilpgram which is an open air emporium showcasing various Indian artefacts, they said.

After concluding their visit to Agra, the Vances will return to Jaipur on the second half of April 23.

Vance and his family will depart for the US from Jaipur on April 24, according to the people cited above. PTI MPB KVK KVK