US President Donald Trump talks business, invites investments

New Delhi: US President Donald Trump on Tuesday discussed business-related issues with India’s policy makers and industrialists.

On the second and final day of his state visit to India, the President discussed the potential of trade, investment, protection of intellectual property rights, H1B visas, along with India’s energy security, with policy makers here. Importantly, the discussions centered around trade-related issues, with both sides, showing optimism to reach a much-awaited trade deal.

“Another major focus of my discussions with Prime Minister Modi is forging bilateral economic relationship that is fair and reciprocal,” Trump said at a joint press conference with Prime Minister Narendra Modi.

“Our teams have made tremendous progress on a comprehensive trade agreement and I’m optimistic we can reach a deal that will be of great importance to both countries.”

According to Trump, since he assumed office, US exports to India are up nearly 60 per cent and “exports of high-quality American energy have grown by 500 per cent”. At present, India has a trade surplus with the US, and it is understood that discussions were held to bring down this down. The US President further said that as India grows, “so do its energy needs”.

“Yesterday, Exxon Mobil signed a deal to improve India’s natural gas distribution network so that the US can export even more LNG to India,” he noted.

Lately, the US has emerged as a large LNG exporter to India.

Besides, Trump announced that the US will establish a permanent presence of the US International Development Finance Corporation in India.

Moreover, the two sides discussed the importance of a secure 5G wireless network.

Later during the day, Trump invited India Inc to invest “billions” of dollars in the US to reap the benefit of tax and regulation cuts that his administration has implemented, and to create jobs in the US.

He extended the invitation during an interaction with top honchos of India Inc including RIL’s Mukesh Ambani, Aditya Birla Group’s Kumar Mangalam Birla and Tata Group’s N. Chandrasekaran amongst others at the business round table event organised at the US Embassy. (IANS)

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