Close X
Tuesday, December 3, 2024
ADVT 
International

India To Import More From Us In Bid To Overcome Trade Differences

Darpan News Desk IANS, 26 Aug, 2019 08:21 PM

    Prime Minister Narendra Modi on Monday informed President Donald Trump that India plans to further step up imports, including oil, from the US and that USD 4 billion worth of imports were already "in the pipeline", as the two countries sought to overcome differences over trade issues.
    The PM Modi- President Trump meeting assumes significance in the wake of the strain that has popped up in the bilateral relationship on a host of trade and economic issues.


    Meeting on the sidelines of the G7 Summit in the French city of Biarritz, where India was a special invitee, PM Modi and President Trump agreed that preferably before the Prime Minister visits US next month, there will be an interaction between the trade ministers of the two countries at which the whole range of trade issues will be discussed.


    Briefing on the 40-minute meeting between Prime Minister Modi and President Trump, Foreign Secretary Vijay Gokhale told reporters that Commerce Minister Piyush Goyal was supposed to go to Washington earlier but it did not materialise.


    Though trade is an important part of the booming bilateral relationship, a row over market access and tariffs has escalated in recent months, leading to fears of a protracted dispute.


    President Trump has previously described India as the "tariff king." Before his meeting with PM Modi on the sidelines of the G20 Summit in Osaka, Japan, demanded the withdrawal of India's "very high" tariffs on US goods.


    "The Prime Minister spoke of the importance of energy imports from the US, and he referred to the fact that 4 billion dollars worth of imports are already in the pipeline and that would be expected to be stepped up," Mr Gokhale said.


    India's exports to the US in 2017-18 stood at USD 47.9 billion, while imports were at USD 26.7 billion. The trade balance is in favour of India.


    He noted that Prime Minister Modi would be in the US in September to attend the UN General Assembly and would also travel to Houston, America's energy capital. The prime minister is scheduled to address the Indian community in Houston on September 22.


    In Houston, the prime minister is expected to have a roundtable with the top CEOs of the energy companies in the US, he said.


    He said the objective there is two fold, one to see how India can import more energy (oil) from the US and second is how the country can invest in the energy sector in the US.


    Mr Gokhale said President Trump spoke very warmly of the fact that India has become a major importer of energy. He also indicated that he was willing to send top administration officials to Houston in an effort to ensure that the bilateral energy relationship made progress.


    The Foreign Secretary described the bilateral meeting between PM Modi and Donald Trump as a very positive one.


    "This is the third either meeting or conversation that the two leaders have had in about 100 days of office that Prime Minister Modi has been in his second term," he noted.

    MORE International ARTICLES

    Chinese Jets 'Buzz' Canadian Ships In Taiwan Strait, Adding New Layer To Dispute

    Chinese Jets 'Buzz' Canadian Ships In Taiwan Strait, Adding New Layer To Dispute
    Chinese fighter jets reportedly buzzed a Canadian warship in the strait earlier this month, which one analyst expects will become more common.

    Chinese Jets 'Buzz' Canadian Ships In Taiwan Strait, Adding New Layer To Dispute

    Sherin Mathews Death: Indian-American Foster Dad Wesley Mathews Gets Life Term

    Wesley Mathews, 39, on Monday pleaded guilty to a lesser charge of injury to a child by omission in the Indian girl's death. Authorities had originally charged him for capital murder.

    Sherin Mathews Death: Indian-American Foster Dad Wesley Mathews Gets Life Term

    Maggots Ate Organs Of 3-Yr-Old Indian Toddler Sherin Mathews Before Her Body Reached Morgue: Pathologist

    When the body of 3-year-old Indian toddler Sherin Mathews reached the morgue, maggots had eaten her internal organs, the doctor who performed the autopsy on the toddler in 2017 has told jurors in Dallas, Texas.

    Maggots Ate Organs Of 3-Yr-Old Indian Toddler Sherin Mathews Before Her Body Reached Morgue: Pathologist

    Pakistani Politician Assaults Journalist During Live TV Debate: Video Goes Viral - WATCH

    A live news debate on a Pakistani news channel turned ugly after an argument between a politician and a journalist turned physical, shocking viewers across the country.

    Pakistani Politician Assaults Journalist During Live TV Debate: Video Goes Viral - WATCH

    Can't Control What People Say: Sarfaraz Ahmed On Being Called ‘Pig'

    While teammates Shoaib Malik and Mohammed Amir had requested the fans not to get personal while criticising the team, Ahmed had so far resisted a comment.

    Can't Control What People Say: Sarfaraz Ahmed On Being Called ‘Pig'

    Superwoman Lilly Singh Wants Late Night Show To Be 'Ray Of Light'

    In the late night talk show, to be aired on NBC, Lilly will be seen conducting in-studio interviews. There will also be pre-taped comedy sketches and other signature elements.

    Superwoman Lilly Singh Wants Late Night Show To Be 'Ray Of Light'