00:00Americans want further access to Indian markets. This is a great place to do business and we want to give our people more access to this country.
00:08And Indians, we believe, will thrive from greater commerce in the United States.
00:12This is very much a win-win partnership. It certainly will be far into the future.
00:19As many of you are aware, both of our governments are hard at work on a trade agreement built on shared priorities,
00:26like creating new jobs, building durable supply chains, and achieving prosperity for our workers.
00:33In our meeting yesterday, Prime Minister Modi and I made very good progress on all of those points.
00:39And we are especially excited to formally announce that America and India have officially finalized the terms of reference for the trade negotiation.
00:48I think this is a vital step. Thank you.
00:56I believe this is a vital step toward realizing President Trump's and Prime Minister Modi's vision,
01:02because it sets a roadmap toward a final deal between our nations.
01:06I believe there is much that America and India can accomplish together.
01:11Look, President Trump and I know that Prime Minister Modi is a tough negotiator.
01:16He drives a hard bargain. It's one of the reasons why we respect him.
01:19And we don't blame Prime Minister Modi for fighting for India's industry.
01:29But we do blame American leaders of the past for failing to do the same for our workers.
01:34And we believe that we can fix that to the mutual benefit of both the United States and India.
01:40But we actually feel that India has much more to gain from its continued defense partnership with the United States.
01:47And let me sketch that out a little bit.
01:49We, of course, want to collaborate more. We want to work together more.
01:52And we want your nation to buy more of our military equipment, which, of course, we believe is the best in class.
01:58India, like America, wants to build.
02:01And that will mean that we have to produce more energy.
02:06It's more energy production and more energy consumption.
02:09And it's one of the many reasons why I think our nations have so much to gain by strengthening our energy ties.
02:16As President Trump is fond of saying, America has once again begun to drill baby drill.
02:23And we think that will inure to the benefit of Americans, but will also benefit India as well.
02:30This administration recognizes that cheap, dependable energy is an essential part of making things and is an essential part of economic independence for both of our nations.
02:43Of course, America is blessed with vast natural resources and an unusual capacity to generate energy.
02:51So much that we want to be able to sell it to our friends like India.
02:55We believe your nation will benefit from American energy exports and expanding those exports.
03:01You'll be able to build more, make more and grow more, but at much lower energy costs.
03:08We have the capacity and we have the desire to help.
03:13Moreover, we think energy co-production will help beat unfair competitors in other foreign markets.
03:18But India, we believe, can go a long way to enhance energy ties between our nations.
03:25And one suggestion I'd have is maybe consider dropping some of the non-tariff barriers for American access to the Indian market.
03:33We welcome the Modi government's budget announcement to amend India's civil nuclear liability laws,
03:39which currently prevent U.S. producers from exporting small modular reactors and building larger U.S. designed reactors in India.
03:48There's much that we can create, much that we can do together.
03:52We believe that American energy can help realize India's nuclear power production goals, and this is very important, as well as its AI ambitions.
04:01Because as the United States knows well, and I know that India knows well, there is no AI future without energy security and energy dominance.
04:11I believe that if India and the United States work together successfully, we are going to see a 21st century that is prosperous and peaceful.
04:21But I also believe that if we fail to work together successfully, the 21st century could be a very dark time for all of humanity.
04:30The 21st century will continue to spread more information in the United States to the United States.
04:43The 21st century is the 24th century.
04:47The 21st century is the 21st century.
04:54Over the years, this day, we are trying to bring together the 21st century.
04:59You
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