Following Prime Minister Narendra Modi’s visit to the US, Indian companies ramped up purchases of American crude. Photo: ReutersWashington: Export of American crude oil to India will create jobs, economic stability and national security in both countries, US energy secretary Rick Perry has said, days after the first ever shipment of US crude oil landed in Odisha. He said the export of US crude oil to India will create jobs, economic stability and national security in both countries. To encourage US crude purchases, the government has allowed refiners to use a foreign rather than an Indian-owned vessel for the purchase. US crude oil shipments to India have the potential to boost bilateral trade by up to $2 billion.

Source: Mint October 06, 2017 05:03 UTC