A trade deal between the United States and India will be positive for global growth, said Borge Brende, president of the World Economic Forum.

"I think there is something moving on the trade deal between the U.S. — the largest economy in the world, and India — the fastest growing among the emerging economies," Brende told CNBC's Tanvir Gill at the WEF India summit on Thursday.

Indian Prime Minister Narendra Modi was in the U.S. for a state visit in September. This week, U.S. Commerce Secretary Wilbur Ross is due to meet Indian Finance Minister Piyush Goyal at the WEF summit, said Brende.

Some have suggested that India's economy may not be as big as China's, the world's second largest economy.

Still, India could be a good partner for the U.S. amid its protracted trade war with China, Brende suggested, saying a trade deal between Washington and New Dehli could signal "something positive."

"Trade conflicts today are slowing down the global growth. Trade was the engine of growth for decades," he added.