"It seems like what the two leaders have done is try to set some of the thorny political issues to the side," said Dhruva Jaishankar, director of the U.S. Initiative at the Observer Research Foundation.
The leaders of India and China are expected to talk about their unsettled border dispute when they meet, and may also address their differences over Kashmir.
India imports around 80% of its oil needs, but Prime Minister Narendra Modi has said he wants to bring that down to 67% by 2022.
India could benefit from a protracted U.S.-China trade war as manufacturers look for alternatives and Washington looks for another partner in Asia.
The tax cut came as Indian Prime Minister Narendra Modi's government attempts to spur the country's slowing economy.
U.S. President Donald Trump, calling the gathering a "profoundly historic event," was greeted with a standing ovation by the Indian-American crowd and his speech was interrupted several times by roars of approval.
India's markets could "easily see" a 10% return in the next six months, and this could present a buying opportunity for investors, according to Suresh Tantia of Credit Suisse.
Indian foreign minister Subrahmanyam Jaishankar told CNBC Jammu and Kashmir had a socio-economic misalignment with the rest of the country.
The Reserve Bank of India's decision to transfer $24.6 billion to the government may not spur new stimulus measures, experts say.
"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one strategist told CNBC.
Hundreds of people protested in Kashmir's main city of Srinagar on Sunday against India's decision to curb its autonomy.
Indian Prime Minister Narendra Modi told the people of Jammu and Kashmir that his government's decision to end special status for the state will ultimately benefit the people.
India's government on Monday revoked the special status of Kashmir in a bid to fully integrate its only Muslim-majority region with the rest of the country.
Michael Kugelman from the U.S.-based Wilson Center says other issues take precedence in the bilateral dialogue between the United States and Pakistan — namely, Afghanistan and counter-terrorism.
Walmart told the U.S.government privately in January that India's new investment rules for e-commerce were regressive and had the potential to hurt trade ties, a company document seen by Reuters showed.
The first month of the monsoon season in India ended with a total rainfall 33% below the 50-year average, Citi said, citing official data.
India's newly appointed finance minister, Nirmala Sitharaman, presented a full-year budget on Friday.
Rahul Gandhi, president of the Indian National Congress, formally stepped down just months after a resounding defeat in the 2019 parliamentary elections that saw Prime Minister Modi return to power.
U.S. President Donald Trump on Thursday asked India to withdraw retaliatory tariffs that New Delhi imposed this month, calling the duties "unacceptable."
The meeting between U.S. President Donald Trump and Chinese President Xi Jinping is likely to be the most closely watched event at the G-20 summit in Osaka.