Business News: PM Modi US Visit: Prime Minister Narendra Modi may visit the US next month to attend the United Nations General Assembly (UNGA), where he is likely to meet President Donald Trump. The meeting may focus specifically on resolving India-US trade tensions and strengthening bilateral relations. The UN General Assembly summit will be held in New York in September, and global leaders will arrive in the week starting September 23.
According to sources, apart from Trump, Modi can also hold high-level talks with Ukrainian President Volodymyr Zelensky and other leaders. Modi and Trump had a close relationship during their first term, but in recent years tariff and trade disputes have created tensions in the relationship.
Deadlock on trade agreement between the two countries
Currently, there is a deadlock on the trade agreement between the two countries. The US wants India to make the agriculture and dairy sector more open for US exports, while India is being cautious in this. Meanwhile, Trump imposed a 25% tariff on India and also imposed an additional 25% duty for continuing to buy oil from Russia. Thus the total duty reached 50%, half of which has already come into effect from August 7, and the rest will come into effect from August 27. Both countries are trying to reach an agreement before this deadline.
America criticized India
Another big issue is oil imports from Russia, for which the US has criticized India. The White House believes that this purchase finances Russia’s war in Ukraine. Trump is pressuring India to reduce oil imports from Russia, while India has strongly protested against this.
India will now be looking forward to the meeting between Trump and Russian President Vladimir Putin on August 15, where a possible solution to end the three-year-long conflict may be discussed. During this visit, Modi’s aim will not only be to strengthen India’s position on the global stage but also to balance the increasingly complex trade and diplomatic equations with the US.
