India offers to buy 1,000 Planes & Oil, Gas from US: Well, a report is coming from the New Delhi where the ongoing trade war is going on. Sources are suggesting that India is seeking for insuring some peace between India and US by offering them an order nearly 1,000 civilian aircraft over the next 7-8 years and step up oil and gas purchase from the world’s largest trader. Commerce minster Suresh Prabhu confirmed that to his US counterpart during their talks last week.
Amid trade war, India offers to buy 1,000 planes, more oil from US
Now, the reports are coming that US trade representative Mark Linscott will begin discussions here with commerce ministry officials as both sides try to find solutions to problems on the trade front. You all should know that India is trying to convince the US that its reciprocal tariffs are part of a WTO-sanctioned. As you all know that US took the first step with steel and aluminium duties.
You can say that the officials are talking about it and the Indians are trying to see some resolution before they start 2+2 talks between foreign minister Sushma Swaraj and defence minister Nirmala Sitharaman with US counterparts – secretary of state Mike Pompeo and defence secretary James Mattis. India has calculated that it will be paying about $5 billion a year for aircraft and about $4 billion for purchase of oil and gas from the US.
Now, you all should know that India is looking for this offer since a long time. India is now looking at buying 12 more naval surveillance aircraft P8i. India is now the largest owner of these aircraft outside the US. India and the US are working on the next foundational agreement – the communications compatibility and security agreement.