Days after US President Donald Trump imposed punitive tariffs on India over Russian oil imports, Commerce and Industry Minister Piyush Goyal, who is in New York for trade negotiations, has called for expanding India-US energy trade.
Speaking at an event in New York on Tuesday, Goyal said there is “scope to expand India-US energy trade” and to collaborate on nuclear power as an affordable clean energy option.
Calling for global cooperation to ensure a secure and sustainable energy future, Goyal also highlighted “India’s integrated national grid, ensuring resilience and uninterrupted supply.”
The minister reaffirmed Prime Minister Narendra Modi’s vision of ‘One Sun, One World, One Grid,,’ underscoring India’s leadership in solar energy, the International Solar Alliance, and the country’s renewable energy achievements, while reiterating India’s commitment to inclusive, sustainable, and affordable growth.
Goyal, Greer hold negotiations for first tranche of trade deal
Earlier on Monday, Goyal held a crucial meeting with US Trade Representative Jamieson Greer in New York, where the two leaders discussed the first tranche of a trade agreement.
According to reports, both sides addressed key sticking points with the aim of reaching an interim understanding soon.
The US president had imposed 50 per cent tariffs on India, including a 25 per cent penalty on oil purchases from the Russian Federation. The decision abruptly halted trade negotiations between India and the US, leaving bilateral relations in limbo.
However, following Prime Minister Modi’s visit to China—where he met President Xi Jinping and Russia’s Vladimir Putin—Trump attempted a course correction and reached out to Modi.
The Indian PM responded positively, paving the way for the resumption of trade talks.