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India plans higher oil and gas imports from US
India is working on expanding energy imports from the US while pushing for reduced tariffs on its own exports, signalling a trade strategy that places energy security at the core of negotiations.
Commerce Minister Piyush Goyal, who is currently in New York, confirmed that India expects to raise its purchases of US oil and gas.
The move comes just weeks after President Donald Trump imposed 50% tariffs on Indian exports, a decision aimed partly at penalising New Delhi for continuing to buy Russian crude.
The development has added a new dimension to the evolving India-US trade relationship.
Energy trade to balance tariffs
Goyal told an event in New York that India and the US, as “close friends and natural partners,” would see energy play a growing role in bilateral trade.The minister highlighted that the world’s third-largest oil consumer is seeking stability in supplies, and Washington is expected to have a central role in diversifying India’s energy security goals.
The Trump administration has argued that India is helping to fund Russia’s war in Ukraine by being the largest buyer of Russian seaborne crude.
The discounted barrels have allowed New Delhi to manage its import bill, but they have also triggered pressure from Washington.
By raising imports from the US, India aims to address Washington’s concerns, reduce trade imbalances, and strengthen its position in tariff negotiations.
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