(Image source from: dailyhunt.in)
The United States is ready to supply oil and gas to India which is lacking in the energy fuels as there exists a huge potential for the bilateral cooperation in the key sector, as said by a top White House official. This statement has been made by the official prior to the United States President Donald Trump’s visit to India.
Larry Kudlow who was the economic advisor to Trump has said that the talks are going on between the countries of India and the United States on a trade deal which could be inked during the visit of Donald Trump to India.
A statement has been made in a response to a question that has been posed regarding the progress on a trade deal ahead of the President Donald Trump’s visit to India.
Donald Trump has said on Tuesday that he was looking forward to his first visit to India which has been scheduled lately in this month and he has also signaled that he has been willing to sign the trade agreement with New Delhi if a right deal can be made.
Kudlow has also said that there exists a much greater potential as a response to a question regarding the increase in export of energy to India.
The President of the United States is said to visit India on the 24th and 25th of the month of February at the invitation that has been sent by Narendra Modi who is the Prime Minister of India.
According to the State Department of the United States, the exports of the US energy are an important area of growth in the trade relationship. It has been recorded that around 48.2 million barrels of the US crude oil has been purchased by India in the year 2018 and it has shown a significant increase when compared to the year 2017 where in it has been 9.6 million.
A Strategic Energy Partnership (SEP) has been made established between the countries of India and the United States. The Strategic Energy Partnership has replaced the former Energy Dialogue.
Strategic Energy Partnership has been established during the last meeting that has been held in New Delhi on 17th of the month of April in the year 2018 between Dharmendra Pradhan who is the Minister of Petroleum and Natural Gas and the United States Secretary for Energy Rick Perry.
The four primary pillars of cooperation have been comprised in the Strategic Energy Partnership which are Oil and Gas, Power and Energy Efficiency, Renewable Energy and Sustainable Growth and Coal.
By Shrithika Kushangi