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Remove barriers for US exports to India and reduce trade deficits: President Trump tells PM Modi

India TV Business Desk New Delhi 27 Jun 2017, 8:06:49 IST
India TV Business Desk

Emphasising the need to create a “fair and reciprocal” trading relationship between India and US, President Donald Trump on Monday told PM Modi that it was important to reduce the trade deficit between the two countries.

President Trump called for the removal of “barriers” for the export of US goods into Indian markets as a step forward in this direction.

“I look forward to working with you to create jobs in our countries, to grow our economies and to create a trading relationship that is fair and reciprocal,” Trump said in his remarks at the White House Rose Garden following his meeting with Modi. 

Trump said it was “important” that barriers be removed to export US goods into Indian markets, “and that we reduce our trade deficit with your country.” 

Referring to the GST reform to be implemented across India starting next month, Trump said it was “the largest tax overhaul in your country’s history”. 

“We’re doing that also, by the way. Creating great new opportunities for your citizens. You have a big vision for improving infrastructure, and you are fighting government corruption, which is always a grave threat to democracy,” he said. 

Trump expressed pleasure about an order by an Indian airline company for 100 new American planes, calling it one of the largest orders of it is kind, which will support thousands and thousands of American jobs. 

“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 are right now being negotiated, and we will sign them. Trying to get the price up a little bit,” he said.

(With PTI inputs)