Donald Trump’s India visit: Deal likely for more US oil, gas to trim trade gap
NEW DELHI: Though the much-anticipated trade deal with the US is unlikely to be concluded during the February 24-25 visit of President Donald Trump, India is expected to agree to buy additional oil and gas from the US to narrow the trade deficit.
US trade deficit with India declined to $17 billion in 2018-19 from $22 billion in 2016-17 as India started importing oil and gas from America in 2017. In 2018-19, India’s crude oil import from the US stood at $3.6 billion and LNG import at $527.14 million.
