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The Oil Ministry declined to comment on the issue
The minister said the tariff reductions would immediately benefit labour-intensive industries such as textiles, apparel, leather and footwear.
Trump has doubled tariffs on Indian goods to a whopping 50 per cent, including a 25 per cent additional duty for India's purchase of Russian crude oil.
India and the US are in advanced discussions to finalise the first phase of a bilateral trade agreement, aiming to address market access and tariff-related issues.
Negotiators from both countries have struggled for more than a year to conclude a trade package as New Delhi and Washington spar over a range of issues, including tariffs.
Prime Minister Modi, who is visiting the US for the 7th time after assuming office in 2014, described Friday's bilateral summit with Biden as important as they're meeting at the start of the third decade of this century.
Garcetti, a Biden loyalist who co-chaired the successful Biden-Harris 2020 election campaign, has served as mayor of Los Angeles since 2013.
The US on Sunday finally agreed to provide it raw materials for vaccines that had previously been under export controls, as well as other key material.
PM Modi thanked Trump for his wishes, saying the victory represents the aspirations of a nation of 1.3 billion people.
Addressing the US-India Strategic Partnership Forum through video conference, Modi also cited a slew of reforms undertaken by his government and asserted that India is committed to democracy and diversity and it has undertaken far-reaching reforms in recent months.
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