Will India boost US energy purchases? Yes, if prices make sense

India would be willing to step up its purchases of American oil and gas if prices are competitive, a senior government official said, at a time when New Delhi has come under intense US pressure for buying discounted Russian crude.

- Dhirendra Kumar & Rhik Kundu

India, on average, imports $12-13 billion worth of crude oil and gas from the US every year.

(REUTERS)

Union commerce secretary Rajesh Agarwal, who left for Washington on Wednesday to join the negotiations for the bilateral trade agreement (BTA) with the US, said that India is open to increasing its crude and gas imports from the US if prices remain viable for domestic refiners.

“Our team is currently in the US, holding discussions with American counterparts on energy trade and related cooperation,” Agarwal said on the sidelines of a press conference held to announce the monthly trade data.

The Indian team will hold trade pact discussions with their counterparts till 17 October.