India does not want to rush into a trade deal with the United States, Indian Foreign Ministry Spokesman Raveesh Kumar said on Thursday, adding that the countries were in talks on a respective deal
NEW DELHI (Pakistan Point News / Sputnik - 20th February, 2020) India does not want to rush into a trade deal with the United States, Indian Foreign Ministry Spokesman Raveesh Kumar said on Thursday, adding that the countries were in talks on a respective deal.
On Tuesday, US President Donald Trump told reporters that he was unsure whether a trade deal would be made before his country's presidential election in November, and that he was "saving the big deal for later on."
"We have been engaging with the United States on trade talks for some time. We hope to reach an understanding with an outcome that strikes the right balance for both sides. We do not want to rush into a deal as the issues involved are complicated with many decisions potentially having a real impact on people's lives and long-term economic consequences. We do not want to create artificial deadlines," Kumar said at a briefing.
The spokesman further acknowledged the progressive relationship and growing trade between Washington and New Delhi.
"Our trade has already been growing at more than 10% per annum for the past two years, and our trade deficit has been declining steadily," Kumar said.
He also confirmed that India planned to increase imports of oil and gas to become the 4th largest consumer of US crude oil. Moreover, the spokesman also said that New Delhi would purchase US-made civil aircraft in "large numbers" over the next few years.
Trump is set to travel to India next Monday for a 2-day working visit. During his trip, the US president will meet with Indian Prime Minister Narendra Modi to discuss bilateral relations.
