Choosing a unique way to describe the evolving trade relationship between India and the US, the US Secretary of State for Energy Resources Geoffrey R Pyatt said that the trade ties between the two major economies are no longer "flat as a 'chapati'" but it has expanded and become "big and puffed up like a 'puri'." Pyatt made this statement while speaking at a discussion regarding the foreign trade agreements between the US and India, emphasising the substantial expansion and strengthening of the bilateral trade and investment connections.
"Nobody today characterises their trade relationship as flat as a 'chapati'. It has become big and puffed up like a 'puri'. I think we are not currently involved in any kind of a Free Trade Agreement (FTA) negotiation with India, but we have ongoing and important negotiations about how to facilitate a further deepening of our trade relationship," remarked Pyatt during a virtual briefing.
The US official's comments reflect the dynamic nature of the India-US trade partnership, which has seen a substantial increase in goods exports from the US to India, reaching $47.2 billion in 2022. This marks a 17.9 per cent rise from the previous year and a 113 per cent increase from 2012.
Addressing a query regarding India-US relations concerning energy security during the Red Sea crisis, Pyatt commended the Indian Navy for its swift response in rescuing a tanker ship from an attack by Yemen's Houthi rebels. He noted that the Indian Navy's proactive measures demonstrated India's capability as a net security provider, ultimately benefiting the US, reported the news agency ANI.
"We are living through a moment of unprecedented turmoil in the international system. What's happening to global container shipping as containerised shipping has been rerouted, and what impact has that had on inflation? The Indian Navy intervened to save a tanker ship that was on fire as a result of a Houthi missile strike," Pyatt said.
"It was the Indian Navy that came to the rescue of that ship. It illustrates India's capacity as a net security provider in the wider region, which benefits the US," he added.
During his visit to India from January 26 to 31, Pyatt stated that he held discussions with Union Petroleum and Natural Gas Minister Hardeep Singh Puri regarding the disruptions in global energy markets following Houthi attacks on merchant ships in the Red Sea, the Israel-Hamas conflict, and the Russia-Ukraine war.
"Our shared interest lies in the stability of the global energy markets, delivering the energy our citizens need, and we are doing so in a way that has the lowest possible carbon footprint," ANI quoted him saying.