US President Donald Trump on Monday announced that India and the US are in discussion for a "fantastic" trade agreement.

Terming that the proposed agreement will be among the biggest ever made, he said: "Over the course of my visit, Prime Minister (Narendra) Modi and I will also discuss our efforts to expand the economic ties between our two countries."

The US president said that commerce between the two nations has increased "by more than 40 percent". "We will be making a very, very major, among the biggest ever made trade deals," he said.

Detailing on it, he said, "We are in the early stages of discussion for an incredible trade agreement to reduce barriers of investments, between the US and India and I am optimistic that working together, the Prime Minister and I can reach a fantastic deal that's good and even great for both of our countries."

According to Trump "Prime Minister Modi is a 'very tough' negotiator." India is now a major market for American exports and the US is India's largest export market, he said.

Trump also said the US was prepared to supply India with defence equipment ranging from drones to helicopters and missile systems.

We look forward to providing the “best and most feared military equipment” to India, said Trump, while addressing a crowd of more than 100,000 people at Motera stadium in Ahmedabad.

Trump said he looked forward to expanding space cooperation between the two nations, and said both sides were at the early stages of reaching an “incredible” trade agreement.

'Booming America' is a great thing for India

Trump added a "booming" America is a great thing for India and also for the world and "that's why, we are so happy to announce that we have had the greatest economy ever in the history of the US."

"We have proven that the best way to attract jobs and opportunity is to reduce burdens on business, knock down barriers to new investments and eliminate unnecessary bureaucracy, red tape, regulations and taxes in the US," he said.

Trump added that Prime Minister Modi has already made significant reforms in India, and the world is looking forward to even more rapid improvement in India's business climate.

"Under his (Modi's) leadership, he wants to do and he is doing this at a record pace," Trump added.

Earlier, President Trump landed for his first visit to India to a grand welcome by Prime Minister Modi and thousands of people who lined the streets and packed into the Motera stadium to say "Namaste Trump".

There were tableaux, folk dancers and musicians rolling out the cultural tapestry that is India, at the airport, on the way and at the spanking new cricket stadium where people waited patiently since early in the morning to hear the two leaders speak.

Modi, who reached Ahmedabad about an hour before Trump did, welcomed Trump and the US first lady at the airport, hugging the president and warmly shaking hands with Melania.

With inputs from agencies.

First Published:Feb 24, 2020 10:03 PM IST