Washington: United States President Donald Trump and Indian Prime Minister Narendra Modi have pledged to increase economic cooperation to make their nations stronger and their citizens more prosperous.
The leaders committed that the United States and India — leading engines of growth in the global economy — should intensify their economic cooperation to make their nations stronger and their citizens more prosperous.
Noting that extensive economic and tax reforms launched in their respective countries will unlock immense economic opportunities for both countries, both leaders committed to further expanding and balancing the trade relationship and to removing obstacles to growth and jobs creation.
They also resolved to pursue increased commercial engagement in a manner that advances the principles of free and fair trade.
The United States and India plan to undertake a comprehensive review of trade relations with the goal of expediting regulatory processes, ensuring that technology and innovation are appropriately fostered, valued, and protected and increasing market access in areas such as agriculture, information technology, and manufactured goods and services.
President Trump and Prime Minister Modi further committed to strengthening cooperation to address excess capacity in industrial sectors. They called on their teams to find creative ways to improve bilateral trade.
Surveying United States-India energy ties and the two countries’ respective energy strategies, the leaders affirmed the continued importance of their Strategic Energy Partnership and of leveraging new opportunities to elevate cooperation to enhance global energy security. The leaders called for a rational approach that balances environment and climate policy, global economic development, and energy security needs.
President Trump affirmed that the United States continues to remove barriers to energy development and investment in the United States and to U.S. energy exports so that more natural gas, clean coal, and renewable resources and technologies are available to fuel India’s economic growth and inclusive development.
Prime Minister Modi and President Trump looked forward to conclusion of contractual agreements between Westinghouse Electric Company and the Nuclear Power Corporation of India for six nuclear reactors in India and also related project financing.
Both leaders welcomed upcoming visits between India and the United States that will expand energy and innovation linkages across the energy sector and deepen cooperation, including on more efficient fossil fuel technologies, smart grids, and energy storage.
They looked forward to working together in a spirit of friendship in the years to come. Earlier, Prime Minister Modi held delegation-level talks with President Trump in the Cabinet Room at the White House.
During the delegation-level meeting, the two leaders touched upon various topics ranging from purchase of military equipment to the bilateral relations between the two nations.
Trump extended a warm welcome to Prime Minister Modi even as he, along with First Lady Melania, received him at the White House earlier in the day.
Heaping praises on Prime Minister Modi, Trump said that he had been reading a lot about him and that he would want to congratulate him for the exemplary leadership he has shown, primarily, economically.