The United State says it will not or do not ensure a lower oil price rate to India, However it has sanctions against Iran and threatened sanctions on Asian buyers, including India of getting oil from the Persian Gulf nation.
The US commerce secretary Wilbur Louis Ross Jr. said that when asked if the United States is considering selling oil to India at a concessional rates to make for loss of Iranian barrels. “US government will not ensure sale of its oil to India at cheaper rates as the commodity is controlled by private companies” he explained further “Oil is owned by private people so the government cannot force people to make concessionary prices”
Ross meets with finance minister Arun Jaitley and industry minister Suresh Prabhu and commerce to the outstanding trade issues.
The Top US companies from diverse sectors such as aviation and defense, energy, health care, digital services, automotive, consumer goods and agribusiness will be in India this week offering “fair and reciprocal’’ business opportunities to their counterparts in the country.
Trade Winds Indo-Pacific features a three-day business forum in New Delhi, India, with additional trade mission stops in Ahmedabad, Chennai, Kolkata, Mumbai, Bengaluru, Hyderabad, and Bangladesh.
According to an official release of the US Embassy the US companies representatives will be meet directly with government leaders, market experts, and pre-vetted potential business partners,
Moreover the US commerce secretary Wilbur Louis Ross Jr. said “Our goal at the US Department of Commerce is to use every available resource to ensure fair and reciprocal trade for US businesses selling their products and services all over the world, Trade Winds is an important component of these efforts.”
US Ambassador to India Kenneth Juster also comment that “the potential for growth in US-India trade is enormous given the size of our economies, Exports of US goods and services to India reached $58.9 billion in 2018. I look forward to hearing of future successes from the companies taking part in Trade Winds,”