As he and US President Donald Trump reached an agreement for Delhi to import more American petrol and oil, Indian Prime Minister Narendra Modi has praised a “mega partnership” with the US.
Trump recently ordered that all of the US’s trading partners, including India, be subject to extensive retaliatory tariffs, which coincided with Modi’s two-day visit. Trump blasted India for having some of the highest trade tariffs in the world, calling them a “big problem,” even as the two men commended one other’s leadership.
The Indian leader stated that he was amenable to lowering tariffs on US goods, repatriating undocumented Indian nationals, and purchasing military fighter jets from the US in an effort to ease upcoming trade hurdles.
It’s Make India Great Again – Miga,” Modi declared, referencing Trump’s “make America great again” catchphrase multiple times during a joint news conference. Additionally, Trump stated that India will be “purchasing a lot of our oil and gas” in an attempt to reduce the two nations’ trade deficit.
The energy agreement with the US “presents a relatively low hanging fruit for both parties,” given that India is already dependent on imported oil, which it sources from several nations. Senior economist Radhika Rao works at DBS Bank in Singapore.
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