In his speech in Jaipur, Vance said that the two countries had finalised the terms of reference for the negotiation. "This is a vital step toward realising President Trump and Prime Minister Modi's vision because it sets a roadmap toward a final deal between our nations," Vance said. He also called Modi a "tough negotiator" and someone "who drives a hard bargain", drawing applause from the audience. Modi and Trump share a warm personal relationship: the Indian prime minister was among the first global leaders to visit Trump after his second term began. But the US president has repeatedly taken aim at India's high tariffs, branding it a "tariff king" and a "big abuser" of trade ties.

Vance said he and Modi, who hosted Vance's family for dinner at his home on Monday, had made good progress on trade talks and confirmed that the two sides had finalised the terms of reference for the trade negotiation. "It sets a roadmap toward a final deal between our nations," he said. Vance has criticised some foreign leaders but was effusive in his praise for Modi, who went to see Vance's family on the birthday of Vance's second son while both leaders were in France for an AI conference in February. "I think he's a special person," Vance said. "In the past, Washington approached Prime Minister Modi with an attitude of prejudice or even one of condescension. And, as I told Prime Minister Modi last night, he's got approval ratings that would make me jealous."

"In our meeting yesterday, Prime Minister Modi and I made very good progress on all of those points, and we’re especially excited to formally announce that America and India have officially finalized the terms of reference for the trade negotiations. I think this is a vital step toward realizing President Trump and Prime Minister Modi’s vision because it sets a roadmap toward a final deal between our nations. I believe there is much America and India can accomplish together." Vance noted that his trip to India was the first time he had visited the birthplace of the parents of his wife, Usha Vance. The vice president, the second lady and their three children visited Modi for dinner on Monday.