New Delhi– India is open to increasing imports of crude oil and natural gas from the United States, even as bilateral trade continues to grow despite higher tariffs imposed by the Donald Trump administration, government officials said on Tuesday.
India’s exports to the U.S. rose to $45.82 billion in the first half of the current financial year (April–September), marking a 13.3 percent increase over the $40.42 billion recorded in the same period last year.
According to the Commerce Ministry, India can import an additional $12–13 billion worth of crude oil and natural gas from the U.S. without needing to alter refinery configurations. Officials emphasized that the government is committed to diversifying the nation’s energy import portfolio, provided supplies are available at competitive prices.
Government sources confirmed that India’s Chief Negotiator Rajesh Agrawal is set to depart for the U.S. on Wednesday, joining an advance team already engaged in talks on bilateral commitments. However, the ministry noted that a full-fledged negotiation may not take place immediately due to the ongoing U.S. government shutdown and reduced staffing levels.
Acknowledging ongoing discussions and speculation surrounding the talks, the ministry said it was “heartening to see exports keep pace during global turbulence,” crediting Indian industries for maintaining strong business relationships and stable supply chains despite higher costs. The newly appointed U.S. Ambassador to India, Sergio Gor, recently met with India’s top leadership to discuss a range of bilateral issues.
The Commerce Ministry added that the effects of tariffs on India–U.S. trade will be analyzed using commodity-level data, with the expectation that sectors facing the 50 percent tariffs will be most affected. The October trade figures are expected to provide a clearer picture of the overall impact.
In addition to traditional energy imports, India is also expected to source more renewable energy technologies from the U.S. as part of the ongoing trade package—an initiative aimed at bolstering clean energy collaboration and addressing climate change.
The latest developments follow Ambassador Gor’s meeting with Prime Minister Narendra Modi last week, where both sides discussed key areas of cooperation, including defense, trade, and technology, as well as the growing importance of critical minerals to both nations. (Source: IANS)
