India has committed to importing greater volumes of oil and gas from the United States in an effort to address the trade imbalance between the two nations, US President Donald Trump has announced.
During a joint press conference in Washington on Thursday, Trump and visiting Indian Prime Minister Narendra Modi underscored the significance of energy cooperation in strengthening bilateral ties, reports BBC.
"They (India) are going to buy a lot of oil and gas from us. They need it, and we have it," Trump stated. Modi, in turn, emphasised that India was prioritising energy security and would focus on expanding its oil and gas trade.
In addition to hydrocarbons, Modi pledged increased investment in India's nuclear energy sector.
Modi’s two-day visit to the US comes at a time when Washington is imposing reciprocal tariffs on several of its trading partners. Although trade tensions persist between the two nations, Modi and Trump share a longstanding personal rapport. While welcoming Modi to the US capital, Trump remarked, "We have a fantastic relationship."
Trump further revealed that the US would substantially increase military hardware sales to India, amounting to several million dollars, and that Washington was prepared to supply New Delhi with F-35 fighter jets.
Immigration also featured prominently in the discussions, with prior speculation that Trump would urge Modi to facilitate the repatriation of thousands of undocumented Indian immigrants residing in the US.
Ahead of his meeting with Trump, Modi also conferred with billionaire entrepreneur Elon Musk, discussing space exploration, technology, and innovation. Modi later stated that he firmly believed he and Trump would work at "twice the pace" compared to the first term of the US President.
Shortly before the high-profile talks, Trump directed his advisers to evaluate the imposition of sweeping new tariffs on US trading partners, cautioning that they could take effect by 1 April.
Addressing journalists before his meeting with Modi, Trump remarked that when it came to import duties, "our allies treat us worse than our enemies." The Republican leader insisted that the existing system had been grossly unfair to the US, asserting that "everyone has taken advantage of us."
