{"id":54319,"date":"2020-02-26T19:00:00","date_gmt":"2020-02-26T13:30:00","guid":{"rendered":"https:\/\/blogadmin.forumias.com\/?p=54319"},"modified":"2020-02-26T18:01:02","modified_gmt":"2020-02-26T12:31:02","slug":"7-pm-with-pacts-on-defence-oil-and-lng-new-chapter-begins-in-india-us-relations-26th-february-2020","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/7-pm-with-pacts-on-defence-oil-and-lng-new-chapter-begins-in-india-us-relations-26th-february-2020\/","title":{"rendered":"7 PM | With pacts on defence, oil and LNG, new chapter begins in India-US relations| 26th February, 2020"},"content":{"rendered":"\n<p><strong>Context:\n<\/strong>Outcome\nof US President Trump\u2019s visit to India.<\/p>\n\n\n\n<p><strong>More\nin news:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The President of the United States of\nAmerica, Donald J. Trump, paid a State Visit to India on 24-25 February 2020,\nat the invitation of Prime Minister Shri Narendra Modi.<\/li><\/ul>\n\n\n\n<p><strong>U.S.\nPresident Donald Trump\u2019s visit:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Both the leaders, Prime Minister Modi\nand President Trump vowed to strengthen a India-U.S. Comprehensive Global\nStrategic Partnership, anchored in mutual trust, shared interests, goodwill and\nrobust engagement of their citizens.<\/li><li>Tens of thousands of people lined the\nstreets of Ahmedabad city in Gujarat, to welcome US President. The leaders\nlater addressed a crowd of more than 100,000 people at the Motera cricket\nstadium.<\/li><li>U.S. President Donald Trump and his wife\nMelania later paid tribute to Mahatma Gandhi at Sabarmati Ashram.<\/li><li>First day ended with the visit to the\niconic place, Taj Mahal, at Agra.<\/li><li>US President Donald Trump &amp; First\nLady Melania Trump pay tribute to Mahatma Gandhi at Raj Ghat.<\/li><li>US First Lady Melania Trump attended a\nsession of the &#8216;Happiness Class&#8217; at the Sarvodaya Co-Educational Senior\nSecondary School in New Delhi.<\/li><li>US President Donald Trump on Tuesday\nattended the state banquet hosted in his honour at the Rashtrapati Bhavan by\nPresident Ram Nath Kovind, the last function of his two-day visit to India.<\/li><\/ul>\n\n\n\n<p><strong>Major\noutcomes of the visit:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Defence Deal: <\/strong><ul><li>The two countries signed the agreements for India to purchase advanced American military equipment, including Apache and MH-60 Romeo helicopters valued at over $3 billion.<\/li><li>As India works to acquire new defence capabilities, President Trump reaffirmed India\u2019s status as a Major Defense Partner affording it the highest consideration for procurement and technology transfer purposes. <\/li><li>The leaders looked forward to early conclusion of defence cooperation enabling agreements including Basic Exchange and Cooperation Agreement.<\/li><\/ul><\/li><li><strong>A Letter of Cooperation in energy security:<\/strong><ul><li>A memorandum of understanding (MoU) between Indian Oil Corp. Ltd and ExxonMobil India LNG Ltd with the Chart Industries (cryogenic equipment manufacturer) to supply liquified natural gas (LNG) by road, rail and waterways to areas not connected by physical pipelines.<\/li><li>The MoU includes fuelling stations and alternative LNG mobile transportation, including railcars and International Organization for Standardization (ISO) containers.<\/li><li>India has been rapidly increasing its imports of oil from the US after it slashed its imports from Iran and Venezuela. <\/li><li>It is expected that in the near future, oil would replace armaments as India\u2019s main imports from the world\u2019s largest economy.<\/li><li>Through their Strategic Energy Partnership, India and the United States are seeking to enhance energy security, expand energy and innovation linkages across respective energy sectors, bolster strategic alignment, and facilitate increased engagement between industry and other stakeholders.<\/li><\/ul><\/li><li><strong>Promote affordable medication:<\/strong> Both the countries committed to continuing their successful efforts in the areas of prevention, early detection, and rapid outbreak response. They hailed a bilateral Memorandum of Understanding (MoU) that seeks to promote access to high quality, safe, effective, and affordable medications for Indian and U.S. consumers. <\/li><li><strong>MoU for mental health challenges: <\/strong>Memorandum of Understanding signed to help both countries address mental health challenges through innovative approaches<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"359\" height=\"371\" src=\"https:\/\/i0.wp.com\/blogadmin.forumias.com\/wp-content\/uploads\/2020\/02\/usa.png?resize=359%2C371&#038;ssl=1\" alt=\"Text Box: Why trade with the US matters to India?\n\u2022\tIndia recently backed out of Regional Comprehensive Economic Partnership (RCEP), the world\u2019s \u201clargest\u201d regional trade pact. Shutting the door on the large \u201cintegrated market\u201d that the RCEP deal was offering, it is important for India to look for other sizeable market. \n\u2022\tAlso, in the backdrop of the global economic slowdown, where India\u2019s global exports have fallen consistently, it is important for the country to diversify and strengthen bilateral relations with other markets.\n\u2022\tThus, India has set its sights on \u201clarge developed markets\u201d, improved access to which would help its industry and services sectors, which includes the US. US over the last two decades has become a crucial trading partner in terms of both goods and services.\n\n\" class=\"wp-image-54325\"\/><\/figure>\n\n\n\n<p><strong>Way Forward:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The two leaders agreed\nto open negotiations on a big trade deal.<\/li><li>US have inched ahead of China to become\nIndia\u2019s top trading partner so far this year. <\/li><li>Data released by the commerce ministry\nshowed that in 2018-19, India-U.S. bilateral trade stood at $ 87.95 billion as\ncompared to India-China bilateral trade worth $87.07 billion. In April-December\n2019-20, bilateral trade between the U.S. and India stood at $68 billion, as\ncompared to $64.96 billion with China.<\/li><li>A trade deal in near future will help\nboth countries to deepen their relation.<\/li><\/ul>\n\n\n\n<p><strong>Conclusion:<\/strong><\/p>\n\n\n\n<p>The&nbsp;strong\nstrategic partnership&nbsp;is also based on an&nbsp;idea of \u201cshared\nvalues\u201d&nbsp;of democracy, rule of law, religious freedom and protection of\nminorities.&nbsp;Both the leaders intend to foster cooperation among their\nindustry and academia for open, secure, and resilient supply of strategic\nmaterials and critical infrastucture, and to independently evaluate the risk\nassociated with deployment of emerging technologies.<\/p>\n\n\n\n<p><strong>Source:\n<\/strong><a href=\"https:\/\/www.livemint.com\/opinion\/columns\/with-pacts-on-defence-oil-and-lng-new-chapter-begins-in-india-us-relations-11582654336553.html\">https:\/\/www.livemint.com\/opinion\/columns\/with-pacts-on-defence-oil-and-lng-new-chapter-begins-in-india-us-relations-11582654336553.html<\/a><strong><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Context: Outcome of US President Trump\u2019s visit to India. More in news: The President of the United States of America, Donald J. Trump, paid a State Visit to India on 24-25 February 2020, at the invitation of Prime Minister Shri Narendra Modi. U.S. President Donald Trump\u2019s visit: Both the leaders, Prime Minister Modi and President&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/7-pm-with-pacts-on-defence-oil-and-lng-new-chapter-begins-in-india-us-relations-26th-february-2020\/\">Continue reading <span class=\"screen-reader-text\">7 PM | With pacts on defence, oil and LNG, new chapter begins in India-US relations| 26th February, 2020<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":49370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-54319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-7-pm","entry"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2019\/07\/7-PM.png?fit=1000%2C500&ssl=1","views":{"total":0,"cached_at":"","cached_date":1704845067},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/54319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=54319"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/54319\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media\/49370"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=54319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=54319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=54319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}