By Dr . Manju Dagar
TRUMP a job creator for Americans; MODI hit by job loss, all time high, with churning economy in India. This trade deal will help America less India. At the same time - Chinese Product and Trumps promises 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’.
As President Trump has an edge as he needs to decorate business relation with either of the two – China & India. Trump is not in a mood to crack deal with China, now India remains the option. But can’t say, when Trump flips to China.India and 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 US and giving more assurances in return.
As President Trump has an edge as he needs to decorate business relation with either of the two – China & India. Trump is not in a mood to crack deal with China, now India remains the option. But can’t say, when Trump flips to China.
India and 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 US and giving more assurances in return.
Government of India is estimated to agree to buy more oil and gas to bridge trade gap, adding oil sector in agenda. Petroleum Ministry of India and the US Govt side, are keen to sell more crude oil and natural gas to India, despite, India know, 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.
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 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 Energy sector with 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.
But its very less compared to Middle East supply, 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 total, still, India imports more than 10% of its oil from Iran and at very commercial viable terms.
Trade deals for TRUMP is 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 his what he committed during his poll campaign about #jobs.
As per US Government report, trade deals contributed 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 thru 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 difference between the TRUMP and MODI.
Despite hoping the deals may be signed as both side agree to sideline contentious issues in cold cane for sometimes, vaporize and will be brought in atmosphere in 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 both side. Thank You. (Dr . Manju Dagar is a senior International Journalist)