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Trade deal with US soon

February 15, 2025

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Financial Express Delhi

Trump said after talks with Modi that India will buy more oil, gas and military hardware from America to bring down the trade deficit while asserting that Washington will not spare New Delhi from reciprocal tariffs

SOME OF THE leaders' agreements are aspirational: India wants to increase by 'billions of dollars' its purchases of US defence equipment and may make Washington the 'number one supplier' of oil and gas, Trump said at a joint press conference with Modi. India's energy purchases from the US could go up to $25 billion in the near future from $15 billion last year, Misri said, adding that this could contribute to reducing the trade deficit.

And New Delhi wants to double trade with Washington to $500 billion by 2030, Modi said. Long-planned cooperation on nuclear energy, also discussed by the leaders, faces ongoing legal challenges.

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