US President Donald Trump has announced on his social media handle that Indian-based Reliance Group will be setting up a $300 billion oil refinery in Texas.
Trump posted on Truth Social about the new partnership. The refinery is the first one to be set up on American soil after 50 years. Apart from providing employment to many locals, Texas refinery will ensure financial growth of Texas region.
Trump thanked Reliance for the investment. The Brownsville refinery will increase the oil production capacity of the US and help the country in exporting oil.
Many Telugus have made Texas their home and the overall growth of the region is bound to impact the prosperity of the Telugu community settled there. Weather, no taxes, growing IT sector and lower cost of living than California has made Texas a favored destination for Telugus.
An Indian MNC setting up a major project is a matter of pride for the Indian community in Texas. It is also a befitting answer to all those who target Prime Minister Modi for acting to the diktats of President Trump.
The economic observers feel Mukesh Ambani-led Reliance Group setting shop in Texas will help Trump project the “America First” image, reduce oil dependence on exports and production in the US.
But political observers say the deal is part of Trump and Modi’s ‘you scratch my back, I scratch your back’ strategy.
