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The New Delhi’s determination comes after the US Ambassador-designate, who was just lately in India, held conferences with all key stakeholders and described the discussions as productive. Based on the sources, talks between India and the US on trade-related issues are progressing steadily.
“The engagement between the 2 sides is dashing up as India is exploring the opportunity of scaling up imports of pure gasoline and renewable vitality applied sciences from the US as a part of its broader technique to diversify vitality sources. The transfer aligns with India’s targets of enhancing vitality safety and selling cleaner alternate options,” the supply mentioned.
So far as India’s vitality safety is worried, New Delhi desires the continual availability of vitality in enough portions and at an reasonably priced value, with restricted vulnerability to disruptions. Prior to now 7-8 years, vitality purchases from the US, largely crude oil, have come down from $25 billion to round $12-13 billion. “So, there’s a headroom of round $12-15 billion, which we are able to buy with out worrying in regards to the configuration of refineries,” Agrawal advised reporters right here.
“And there’s a bilateral dedication, and in discussions we’re in, we’ve got indicated very positively that India as a rustic wish to diversify its portfolio so far as vitality imports are involved. That’s one of the best technique for an enormous purchaser like India. As a rustic, we will likely be very blissful to purchase extra vitality from the US, topic to availability on the proper value,” Agrawal mentioned.
The Indian negotiating workforce is already in Washington for commerce talks, and Agrawal might be part of them on Monday. “Our negotiating workforce is already within the US, and (they’re) making an attempt to see if we are able to have a win-win resolution between the 2 sides, which might deal with a few of these tariff points,” the secretary mentioned.
These remarks are necessary as buying extra crude oil from the US will deal with Washington’s considerations on the merchandise commerce deficit with India, which stood at $45.8 billion in 2024-25. When requested if this can be a formal spherical of negotiations, the secretary mentioned the US is in shutdown, and due to that, their manpower power is down as they aren’t working.
“So, that’s not the proper time to have a full-fledged negotiation. Having mentioned that, there’s a motion on either side the place we try to see if there’s a pathway to handle the present commerce challenges. Each side are discussing to see if there are any solutions,” Agrawal mentioned.
