The White House has revised a fact sheet on the interim trade deal between the United States and India, removing the reference to "pulses" from the list of American products on which India would eliminate or reduce tariffs. The revised sheet also changed "committed" to "intends" regarding India's purchase of American products.
President Trump is celebrating the US-India trade deal as a landmark achievement, with a major focus on boosting American coal exports to India and other trade partners.
Commerce and Industry Minister Piyush Goyal announced that an interim trade agreement between India and the US is likely to be signed in March and operationalised in April, with chief negotiators meeting in Washington to finalize the details.
India has clarified its position on the proposed interim trade agreement with the US, stating that the joint statement remains the basis for mutual understanding. Amendments to a White House fact sheet reflect shared understandings, with both sides working towards finalizing the agreement.
Both countries commit to provide each other preferential market access in sectors of respective interest on a sustained basis
The deal shifts the US posture towards India from hostile to neutral, and that matters for growth, points out T T Ram Mohan.
The rupee witnessed a volatile trading session and settled for the day on a slightly lower note, down 1 paisa at 90.66 against the US dollar on Monday, as traders assessed the details of the India-US interim trade framework.
US and India will promptly implement this framework and work towards finalising the interim agreement with a view to concluding a mutually beneficial bilateral trade agreement.
Several farmer organisations in India are protesting the proposed India-US trade deal, expressing concerns about its impact on the agriculture sector and demanding the resignation of the Commerce Minister.
The Congress party has criticized the Indo-US trade agreement, calling it a 'surrender' of India's self-esteem and interests, and a betrayal of Indian farmers and MSMEs.
'Based on the joint statement, a formal agreement will be drafted, which may take a month or month-and-a-half to finalise. We aim to sign the formal agreement by mid-March.'
India and the US have agreed to a trade deal that will see Washington reduce reciprocal tariffs on Indian goods from 25% to 18%, according to US President Donald Trump. The deal also includes commitments from India to reduce tariffs and non-tariff barriers against the US and to increase purchases of American products.
The US said India will lower tariffs on a "vast array" of American industrial and agricultural goods, such as "fruits, vegetables", to zero per cent under the trade deal announced by President Donald Trump.
The agreement addresses non-tariff barriers and promotes increased trade in technology products and cooperation between the two countries.
India will restrict crude oil purchases from Russia as part of an agreement reached with the US in exchange for lower trade tariffs, sources said, adding imports will continue for now by refiners such as Nayara Energy, which have no other alternative source. US President Donald Trump announced overnight that the United States will cut the reciprocal tariff on imports of Indian goods to 18 per cent from 25 per cent under a broader bilateral understanding.
Trump announced that India and the US agreed to a trade deal under which Washington will charge a reduced reciprocal tariff on Delhi, lowering it from 25 per cent to 18 per cent.
'Trump says India will buy over $500 billion of US goods.' 'At present, India's annual imports of goods and energy from the US are under $50 billion.' 'Reaching $500 billion would likely require more than 20 years, suggesting the figure refers to a long-term aspiration rather than a near-term commitment.'
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India has gained the least since Russia invaded Ukraine in February 2022 and was penalised the most, while the US, China and the European Union emerged as the biggest beneficiaries from the war.
India's purchase of US crude oil has picked up in 2025 and could easily double their previous levels, government officials said on Wednesday. The surge comes in the wake of the then-incoming Donald Trump administration's announcement that it would consider hiking tariffs on a reciprocal basis, and pushed some countries, especially those with large trade surpluses with the US, to buy more of its energy.
India should simultaneously prioritise domestic exploration and production of more oil and gas in the country, and ensure we retain diversified suppliers for imports, points out former foreign secretary Ranjan Mathai.
'The President's expectations shifted. The goal post moved and India didn't realize that the goal post had moved.'
Donald Trump's tariffs, meant as political punishment, have avoided the predicted chaos, lifting US growth, weakening rivals, and letting him claim victory in a resilient global economy, observes T T Ram Mohan.
US strikes on Iran's three main nuclear facilities have once again raised concerns that Tehran might shut down the Strait of Hormuz - one of the world's most critical chokepoints, through which a fifth of global oil and gas supply flows.
Chinese import tariffs have unwittingly come to India's assistance to help boost imports of US liquefied petroleum gas (LPG) at rates cheaper than what it pays for supplies from West Asia, according to industry sources and shipping data.
With India making it clear that the US doesn't have enough spare capacity for crude oil, Washington, DC, now wants India to sign fixed-term liquefied natural gas (LNG) contracts with American producers, multiple sources in the know said.
'Geopolitical stability could remove the crude oil risk premium.'
Moody's Ratings on Tuesday said India has a lower overall exposure to the US relative to others in the APAC region, although certain sectors such as food, textiles and pharmaceutical products face risks. Moody's said most companies in its rated portfolio are domestic-focused with limited exposure to the US market.
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US shale oil would act as an alternative to India's heavy dependency on Russian crude, which is currently facing sanctions.
"Anybody unhappy with Elon? If you are, then we'll throw them out of here," Trump said
'Trump is good news for us. Energy poverty is real, and fossil fuels are the answer.'
'The US is strongly placed to expand its crude supplies to India.'
However, copious oil supplies amid growing global output and slowing Chinese oil consumption will put India in a better bargaining position with Gulf suppliers.
Even as Russia and West Asia have been slugging it out for market share in India to sell their crude oil, the US is quietly making its moves on the sidelines. The US has doubled its share of the Indian crude market in the past few months, according to industry sources and ship-tracking data. Some of the increase in America's market share may have come at the expense of Russia, India's biggest crude oil supplier, said industry sources.
'We spoke about taking time and enjoying our batting but it didn't pan out that way.'
Moniz, who is expected to meet Indian officials on March 10 and 11, had put off the trip last month in view of the strained relations between the two countries over the arrest of senior Indian diplomat Devyani Khobragade in New York.
United States Energy Secretary Ernest Moniz has cancelled his crucial trip to India this month in view of the strained relations between the two countries over the arrest of an Indian diplomat on alleged visa fraud charges.
Jasprit Bumrah was magnificent in India's six-run victory over Pakistan with figures of 3/14.
Super Tuesday is an important phase of presidential primaries when the early contests are over, and voters from multiple states cast ballots in primaries timed to occur on the same date. Almost all the results were one-sided in favour of Trump except for Vermont, where the winning difference was about one per cent.
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