00:00PM Modi was on a two-day visit to the US amidst the tension of trade tariffs, where he also
00:11met with US President Donald Trump.
00:14There was a positive conversation on several issues between the two, where America is tariffing
00:19countries around the world, while India has made a separate deal to avoid Trump's tariff.
00:25India's energy was the only weapon to avoid trade tariffs, and PM Modi used it in his
00:32visit.
00:33India is the largest importer of crude oil and natural gas in the world.
00:38At present, India imports the most crude oil from Russia, but Trump wants America's oil
00:44to be sold at a large level in the Indian market with countries around the world.
00:48For this, he has also asked for more production from oil companies in his country.
00:53India can also increase its 10-15% oil import from America, although this will also affect
00:58the oil coming from Russia and the Middle East.
01:02India has also appealed to America to buy oil and gas.
01:06In total, Trump wants India's big market for American oil, but there are big challenges
01:12in this regard in front of India.
01:15The biggest challenge for India to increase oil imports from America is that it gets
01:22oil at a low price from Russia.
01:24In addition to the fact that American crude oil is expensive, it will also bring more
01:28transportation costs with it, because the cost of bringing it from the American coast
01:32to India will increase.
01:34But now that PM Modi has agreed to increase oil trade between the two countries to avoid
01:40the trade war, there is no possibility that India's energy relationship with Russia will
01:45also be affected.
01:47After the agreement to buy oil and natural gas from America, there will be an option
01:53for import for Indian oil and gas companies.
01:57Apart from America, Russia, OPEC, OPEC Plus, America, Guiana or Brazil are also options
02:03for oil-imported countries.
02:05There is a stir all over the world about the oil business, but the prices of crude oil
02:11are also under pressure.
02:14In New York, the price of West Texas Intermediate crude oil has fallen by 0.78% to $70.81 per
02:20barrel, while Brent crude's price fell by 0.76% to $74.61 per barrel.
02:30On the other hand, looking at the approach taken by India on the issue of illegal Indian
02:36immigrants, it seems that the government is not taking any action against the green card
02:43issue.
02:45However, Foreign Minister Ashutosh Shankar recently said in the parliament that the Indian
02:49government will talk to the American government and ensure that illegal Indians living in
02:53America are not misbehaved while sending them back.
02:57But there was no such strong point in the conversation.
03:01Overall, for India, it is a challenge to advance commercial and political cooperation
03:05with the Trump administration.
03:09And only time will tell how successful the government will be in this.
03:13So what is your opinion on this whole news?
03:17Give us your opinion in the comment box and keep watching for such updates from Goodreturns.
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