Donald Trump and Modi meeting
India and America are going to hold trade talks this week. For this, India has promised to import American energy and gas to reduce America’s concerns about buying oil from Russia. In August, the Trump administration had announced to increase tariffs on Indian goods by 50%, after which the talks were postponed for some time. The Trump administration had accused India of funding Russia’s war in Ukraine by buying oil from Russia. But in September, Trump spoke to PM Modi on phone and showed conciliatory attitude, due to which talks started again and now there is hope of a deal.
According to Reuters report, India is considering increasing the purchase of energy and gas from America. This step has been taken after the meetings of US Ambassador-designate Sergio Gore with Modi and Commerce Secretary Rajesh Aggarwal. Gore wrote on ‘X’ on Sunday that during his visit to India, I met Agarwal and talked about US-India economic relations, which includes increasing investment in America. The government said that last month, Indian officials held constructive talks with US officials in Washington and both sides agreed to finalize the trade deal as soon as possible.
harm from tariffs
India’s exports of textile, leather, gems-jewellery and food products have suffered loss due to increase in US tariffs. According to Trade Ministry data, India’s exports to the US were $8.01 billion in July, declined to $6.86 billion in August, and declined further in September. The target of the talks that started in February 2025 is to double the trade between the two countries to $500 billion by 2030.
Five rounds of talks have taken place so far, and the sixth round, which was halted in August, can now move towards the first phase of the deal next month, as decided by Trump and Modi. India wants American companies to invest more in its renewable and nuclear energy sectors. The official said that investment in our energy sector is an important part of our relations. India is also ready to buy more Liquefied Natural Gas (LNG) from America. On the Trump administration’s call to increase Indian investment in America, the source said that New Delhi is not opposing it and is looking at foreign investment by Indian companies positively, just like China does.