Trump meets Modi at G7 Summit, discusses progress on US-India trade deals
The two leaders held their first in-person meeting in over 16 months, but no formal agreements emerged from the talks in France
President Donald Trump and Indian Prime Minister Narendra Modi sat down at the G7 Summit in Evian, France on June 17 to discuss the state of US-India trade relations. Trump described the meeting as positive and said the two countries are actively working on trade deals, though no formal agreements came out of the summit.
It was their first face-to-face meeting in more than 16 months.
What actually happened at the G7
The bilateral meeting focused primarily on advancing an interim trade agreement between the two countries. This builds on a framework for a reciprocal interim trade deal that was announced back on February 6, 2026, which was designed to ease the friction that has defined US-India economic relations in recent years.
US officials made it clear ahead of the talks that no formal agreements would emerge from the summit discussions.
US Trade Representative Jamieson Greer is expected to visit India the week after the summit to continue negotiations.
The thorny backdrop to these talks
India’s imports of Russian oil have been a persistent irritant in the relationship. The US has raised concerns about these purchases on multiple occasions, and the topic of energy security was part of the discussions at Evian.
The February 2026 framework announcement was supposed to signal a new chapter. Both sides agreed to work toward a reciprocal interim trade agreement that would address some of these longstanding issues. Four months later, at the G7, the message was essentially: we’re still on that path, but we’re not there yet.
What this means for markets and investors
Investors with exposure to Indian markets or US companies with significant India operations should be watching Greer’s visit closely. The specifics that emerge from those follow-up negotiations will matter far more than the diplomatic pleasantries exchanged at the G7.
For crypto markets specifically, the G7 discussions offered essentially nothing. Digital assets weren’t part of the conversation between Trump and Modi, and the summit more broadly didn’t produce any notable cryptocurrency-related frameworks or announcements.