PM Modi looks forward to speaking with Trump, seeks early conclusion of US-India trade talks

After US President Donald Trump extended an olive branch to PM Modi over the stalled trade talks with India, the prime minister said on Wednesday that both sides are "natural partners", noting a thaw in the recently frosty relations with the Trump administration. In his post on X, Modi stressed that India and the US are “close friends and natural partners” and said the negotiations could unlock “limitless potential” for both economies."Our teams are working to conclude these discussions at the earliest. I am also looking forward to speaking with President Trump. We will work together to secure a brighter, more prosperous future for both our people," he added. The response came after the US president said negotiations to reduce trade barriers were underway and described PM Modi as a “very good friend.”Read Also | Trump says US, India continue talks on trade barriers; looks forward to speaking with 'very good friend PM Modi'The Republican leader, in his most recent Truth Social post on the trade pact, struck an upbeat note, and said that he was confident there would be “no difficulty” in finding common ground with India."I am pleased to announce that India, and the United States of America, are continuing negotiations to address the Trade Barriers between our two Nations. I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks. I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries," he wrote in the post.Tariffs, thaw and trade talks The President's shift in tone is signifcant as just last week he had said, in an earlier Truth Social post, that India had offered to cut its duties to zero percent for the US, though he also noted that the action had come too late."They have now offered to cut their Tariffs to nothing, but it’s getting late. They should have done so years ago. Just some simple facts for people to ponder," his earlier post said.In the same post, Trump had also continued his criticism of India’s energy and defence ties with Russia, saying New Delhi “buys most of its oil and military products from Russia, very little from the U.S.”Trade talks had slowed after Washington imposed a steep 50% reciprocal tariff on all Indian goods—one of the harshest in its history. Trump claimed that the move came in retaliation for India’s purchase of discounted Russian crude, which the administration said indirectly fuelled Moscow’s war in Ukraine.New Delhi has consistently defended its position, pointing to national energy security and affordability.Read Also | Trump’s tariffs could reduce India's GDP by 0.5%, says CEA Anantha NageswaranAccording to PM Modi's Chief Economci Advisor V Anantha Nageswaran, Trump’s 50% tariffs could shave 0.5–0.6% off India’s GDP this year. “I hope the additional penal tariff is a short-lived phenomenon,” Nageswaran had told Bloomberg TV’s Haslinda Amin in an interview on Monday.However, the CEA had added that he will stick to the government’s growth forecast of 6.3-6.8% for the fiscal year ending March 2026, in view of strong expansion in the April -June quarter.