Both PM Modi and US President Donald Trump swore to strengthen the Indo-U.S. economic partnership in a way which will be beneficial for both the countries. They also vowed to work towards solving the existing differences between the two.
“On the economic side, the two sides had very productive discussions. The economic changes in both countries are creating new demands and once you have the high-level comfort between India and the U.S., the other partner is well placed to meet those demands,” Foreign Secretary S. Jaishankar told reporters after PM Modi held his first meeting with Trump in Washington at the White House.
Jaishankar mentioned the civil aviation market and natural gas as areas of partnership and added that from the next year the Liquefied Natural Gas (LNG) from the U.S. will start flowing to India. Expect in the next many years the Indo-U.S. LNG trade will be in excess of $40 billion, he said.
“There was a discussion on trade matters, market access, regulatory issues and barriers. Both leaders underlined the importance of free and fair trade,” said Jaishankar.
Talking about the H-1B visa issue, he said “On the H-1B issue, there was a lot of discussion with business leaders and the two leaders about the digital partnership”
“There is recognition that the Indian-American community has played an extraordinary role in building this relationship. When you value something, it is obvious that you will take care of what you value,” he added.
Trump also vowed to stay committed to strengthening cooperation to address excess capacity in industrial sectors.
About fair trading, both to work on policies which will create jobs in both the countries.
“It is important that barriers be removed to the export of U.S. goods into your markets, and that we reduce our trade deficit with your country. I was pleased to learn about an Indian Airlines recent order of 100 new American planes, one of the largest order of it is kind, which will support thousands and thousands of American jobs,” Trump said.
“We’re also looking forward to exporting more American energy to India as your economy grows, including major long-term contracts to purchase American natural gas, which is right now being negotiated, and we will sign them. Trying to get the price up a little bit,” he said.
“India has the fastest growing economy in the world. We hope we’re going to be catching you very soon in terms of percentage increase, I have to tell you that. We’re working on it,” he said as he praised the GST reform.
Talking about development of trade, commerce and investment links, PM Modi said, “We consider the USA as our primary partner for India’s social and economic transformation in all our flagship programmes and schemes. I am sure that the convergence between my vision for a ‘new India’ and President Mr. Trump’s vision for ’Making America Great Again’ will add new dimensions to our cooperation,”
“I am very clear about the fact that India’s interests lie in a strong, and prosperous, and successful America. In the same way, India’s development and its growing role at the international level are in the USA’s interest,” he said.
