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India, US enhance energy partnership

India Global Business Staff

India and the US have pledged to further strengthen economic cooperation and increase engagement in the oil and energy sector with a view to boost bilateral trade. Indian Prime Minister Narendra Modi and US Vice-President Mike Pence had “productive discussions on all aspects of global strategic partnership based on growing convergence of interests on regional and global issues” on the sidelines of East Asia Summit in Singapore on November 14, according to the Indian Ministry of External Affairs (MEA). “We agreed that in a new relationship we are building with the US where trade is expanding, we need to find ways in which we can help that process to take place,” added Indian Foreign Secretary Vijay Gokhale. Mike Pence's office said he encouraged “free, fair, and reciprocal trade with India” and acknowledged that India had made substantial progress economically as well as diplomatically in regional and international affairs.

In a move that renewed hope in India’s civil aviation circles, and sent waves of optimism in business circles, the Tata Group acquired beleaguered national carrier Air India for $2.4 billion last week. The transaction will be completed by December 2021.

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