Communication Secretary to go to U.S.; India open to boost vitality purchases from America

Commerce Secretary Rajesh Agrawal will be part of the Indian delegation within the U.S. tomorrow for commerce talks, with India indicating its readiness to step up vitality imports from America.

In the previous 7-8 years, vitality purchases from the U.S., largely crude oil, have come down from $25 billion to round $12-13 billion.

Also Read: ​Mixed alerts: On India-U.S. talks

“So, there’s a headroom of round $12-15 billion, which we will buy with out worrying concerning the configuration of refineries,” Mr. Agrawal instructed reporters in New Delhi.

“And there’s a bilateral dedication, and in discussions we’re in, we’ve got indicated very positively that India as a rustic want to diversify its portfolio so far as vitality imports are involved. That’s one of the best technique for an enormous purchaser like India.”

These remarks are essential as buying extra crude oil from the U.S. will tackle Washington’s considerations on the merchandise commerce deficit with India, which stood at $45.8 billion in 2024-25.

“As a rustic, we shall be very glad to purchase extra vitality from the U.S., topic to…availability on the proper value,” Mr. Agrawal mentioned.

The Indian negotiating group is already in Washington for commerce talks, and Mr. Agrawal will be part of them tomorrow.

“Our negotiating group is already within the U.S., and (they’re) attempting to see if we will have a win-win resolution between the 2 sides, which might tackle a few of these tariff points,” he mentioned.

When requested if this can be a formal spherical of negotiations, the secretary mentioned the U.S. is in shutdown, and due to that, their manpower energy is down as they don’t seem to be working.

“So, that’s not the suitable time to have a full-fledged negotiation. Having mentioned that, there’s a motion on either side the place we are attempting to see if there’s a pathway to handle the present commerce challenges. Both sides are discussing to see if there are any solutions,” he added.

In February this 12 months, leaders of the 2 nations directed officers to barter a proposed Bilateral Trade Agreement (BTA). They have mounted a deadline to conclude the primary tranche of the pact by the autumn (October-November) of 2025.

So far, 5 rounds of negotiations have been accomplished.

Last month, Commerce and Industry Minister Piyush Goyal led an official delegation to New York for commerce talks.

These deliberations are essential because the relations between the 2 nations have been reeling beneath extreme stress after U.S. President Donald Trump’s administration imposed a steep 50% tariff on Indian items. It features a 25% extra import responsibility for getting Russian crude oil.

India has described these duties as “unfair, unjustified and unreasonable”.

The Indian business has additionally raised considerations over Mr. Trump’s new coverage on H1B visas.

However, the latest cellphone conversations between Prime Minister Narendra Modi and Mr. Trump have raised hopes for a constructive consequence from the continuing negotiations for the commerce deal.

After a quick hole, Assistant U.S. Trade Representative for South and Central Asia Brendan Lynch held talks with Indian officers right here in New Delhi on September 16. In that assembly, either side agreed to push for an early and mutually useful conclusion of the settlement.

Last week, U.S. Ambassador-designate to India Sergio Gor held talks with the Commerce Secretary on India-U.S. financial ties.

The proposed pact goals to greater than double the bilateral commerce to $500 billion by 2030 from the present $191 billion.

The U.S. remained India’s largest buying and selling accomplice for the fourth consecutive 12 months in 2024-25, with bilateral commerce valued at $131.84 billion ($86.5 billion exports).

It accounts for about 18% of India’s whole items exports, 6.22% in imports, and 10.73% within the nation’s whole merchandise commerce.