Trade deficit hits… India inks first major LPG import deal with US

FROM THE FRONT PAGE

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THE DEAL FOLLOWS the commitment expressed by India to scale up energy imports from the US, with which the country is negotiating a bilateral trade agreement (BTA), even as most Indian goods face an additional tariff of 50% in the US over the most favoured nation rates.

"This purchase is based on using Mount Belvieu as the benchmark for LPG purchases and a team of our officials from IndianOil, BPCL, and HPCL had visited the US and engaged in discussions with major US producers over the last few months, which have been concluded now," the minister said in a post on X.

The country has been diversifying its sourcing of LPG in its attempt to provide secure and affordable supplies to the consumers.