Dr. Manju Dagar
TRUMP a job creator for Americans; MODI hit by job loss, an all-time high, with the churning economy in India. This trade deal will help America less India. At the same time – Chinese Product and Trumps promise both are very unreliable, even if it is sealed. Sometimes – You must give yourself an educated guess that -President Trump may say sorry to Prime Minister Shri Narendra Modi on some subject very clearly. Like he said in G7 Summit – “‘Sorry, it’s the way I negotiate’.
I want to write more about the oil and gas deal between India and America during this rock and role visit so I decided to meet Fox Petroleum chairman and Managing Director Dr. Ajay Kumar regarding Oil and Gas deals on TRUMPS visit to India. Dr. Ajay Kumar is a very famous Oil and Gas Business Tycoon in Gulf countries so he is the right man to ask. When I ask my question He said As President Trump has an edge as he needs to decorate business relations with either of the two – China & India. Trump is not in a mood to crack a deal with China, now India remains the option. But can’t say, when Trump flips to China. After a small gap, Dr. Ajay said see India and the US are negotiating a trade package to iron out certain issues and promote two-way commerce. But New Delhi needs to be cautious, as President Trump is habitual of taking more in deals for the US and giving more assurances in return.
Dr. Ajay gives a mysterious smile and continues his point that the government of India is estimated to agree to buy more oil and gas to bridge trade gap, adding the oil sector to the agenda. Petroleum Ministry of India and the US Govt side, are keen to sell more crude oil and natural gas to India, despite, India knows, Crude & LNG sourcing from the US is not a viable option due to logistics cost but will help trim the trade imbalance between the two countries, which is now in India’s favor, by one side give other side take.
Dr. Kumar said see under the US-India Strategic Energy Partnership many deals will see progress even the past deals covered during Prime Minister Shri Narendra Modi’s visit to the US, like Tellurian Inc and Petronet LNG Ltd for gas supply and making structural changes in gas pricing. Further, the two countries are expected to enhance ties in the Energy sector with a positive mind frame. United State’s trade deficit with India declined significantly from more than $22 billion in 2016-17 to around $17 billion in 2018-19 as India started buying oil and gas from the US in 2017. In 2018-19, India’s crude oil import from the US stood at $3.6 billion, while LNG import was at $527.14 million. In April-December 2019, India imported crude oil and LNG worth $3.7 billion and $576.28 million, respectively, from the US, making it the sixth-largest supplier of crude oil, and the fifth-largest supplier of LNG, to India.
Fox Petroleum chairman Dr. Ajay clear his point and said see it’s very less compared to Middle East supply because I know about middle east deals, this is my territory of business. India provisionally imported 91.24 million tonnes of crude oil in April-August 2019, down from 93.91 million tonnes a year back. Saudi Arabia has traditionally been India’s top oil source, but it was for the first time dethroned by Iraq in the 2017-18 fiscal year. Out of the total, still, India imports more than 10% of its oil from Iran and at very commercially viable terms. Thank you, Dr. Ajay to share your thoughts with us about the upcoming meetings between big democratic nations Indian and America.
Trade deals for TRUMP are job centric not revenue centric, and he wons in that with all trade deals. The mother subject behind the trade deals. President Trump has given ob to his people. He addressed well what he committed during his poll campaign about #jobs.
As per the US Government report, trade deals contributed to trade growth has contributed to a historic streak of positive job gains. U.S. job creation grew from 2.2 million in 2017 to 2.7 million in 2018. Over 2018, job growth averaged 223,000 jobs per month. Significantly, this growth was consistently solid throughout 2018, as the U.S. economy added over 100,000 jobs every month over the year.10 Notably, 2018 marks only the second time since 2000 that such consistent job growth has occurred for a full calendar year.
Whereas Prime Minister Shri Narendra Damodar Modi failed to give jobs through India Inc and egotism of Government leads to taking away rights of 300000 citizens to do business. If you will speak, they will troll you, trail you, lead you to ail. This is the difference between the TRUMP and MODI.
Despite hoping the deals may be signed as both sides agree to sideline contentious issues in cold cane for sometimes, vaporize and will be brought in the atmosphere in a suitable environment. The current U.S.-India partial trade deal though limited in scope should be visualized as the beginning of an important chapter towards a larger Free Trade Agreement. I hope this should go healthy on both sides.
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