PM Narendra Modi urges global oil suppliers to review payment terms to give relief to the country which is struggling with a weakening currency.
NEW DELHI: Prime Minister Narendra Modi urged global oil suppliers on Monday to review payment terms in order to give relief to the country which is struggling with a weakening currency.
Modi was speaking to oil ministers and chief executives of oil majors at a round table in New Delhi, a government statement said.
"He requested for review of payment terms so as to provide temporary relief to the local currency," the statement quoted him as saying.
"Prime Minister Modi made a strong case for a partnership between the producers and consumers in the oil market as it exists in other markets," the statement said.