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Piyush Goyal Calls for Diversifying Crude Oil, Coking Coal Imports
Commerce Minister Piyush Goyal stated that India seeks diversification in its crude oil and coking coal purchases and would prefer high-quality coking coal from the US. He also spoke about importing American technology, such as GPUs and data center equipment, for AI applications. Goyal described the India-US trade deal as beneficial for Indian companies and set a goal of making India a $30-35 trillion economy by 2047.
Commerce Minister Piyush Goyal said India is seeking diversification in the purchase of its crude oil and coking coal requirements, and the country would like high-quality coking coal from the US.
He also said that the US can provide certain items that India is in desperate need of in terms of economic growth. These items could include graphics processing units used in artificial intelligence applications, data centers, high-performance computers, etc.
He said that India can provide products that the US cannot compete with, and the US can provide technology and capital that India cannot compete with. He said that there is already a requirement of aircraft valued at $100 billion from the US in the next five years, and the country requires more aircraft to enhance capacity and reduce fares.
