India and the United States are moving forward on their trade talks, but New Delhi says it isn’t ready to sign a deal just yet.
Commerce Secretary Rajesh Agrawal led a group of Indian trade officials to Washington last week, where they had “constructive” meetings with U.S. counterparts. The talks focus on the long‑standing tariff dispute and the possibility of boosting Indian imports of U.S. oil and gas.
The U.S. has pushed hard for India to cut its use of Russian oil, a demand the Trump administration highlighted. In return, India has told Washington that it will increase purchases of American crude. That shift could help reduce the U.S. trade deficit with Asia’s second‑largest energy consumer.
“Progress has been made in a very friendly atmosphere,” Commerce Minister Piyush Goyal said, but stressed the talks are without hard deadlines. “We can’t agree on anything until the interests of our farmers, fishermen and small‑business sector are fully covered.”
President Donald Trump said that Prime Minister Narendra Modi assured him that India would lower its Russian oil purchases. India responded with a statement that its oil and gas policy is driven by the needs of Indian consumers amid a volatile market. Ministry of External Affairs Minister Randhir Jaiswal explained that safe prices and reliable supplies are the twin priorities of India’s energy strategy, and that the country has long sought to broaden its supply sources, including the U.S.
Commerce Secretary Agrawal noted that U.S. crude imports to India fell from about $25 billion to $12–13 billion over the last seven to eight years. “We still have room to buy another $12–15 billion, if refineries can handle it,” he said. “India wants to keep its energy mix diverse, and that’s the best plan for a big buyer.”
The U.S. and India continue to negotiate, looking for a trade deal that balances tariff relief with broader energy cooperation.
Source: ianslive
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