BIARRITZ: Prime Minister Narendra Modi recently 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 their differences
on tariffs and market access.
The Modi-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, Modi and Trump agreed that
preferably before the Prime Minister visits US next month, there will be
an interaction between their Trade Ministers at which "the whole range
of trade issues will be discussed," Foreign Secretary Vijay 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. The Foreign Secretary
described the bilateral meeting between Modi and Trump as a very
positive one.
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