Buying US oil, gas in India's strategic interests: Piyush Goyal
Union Minister Piyush Goyal says picking up oil and gas from the US is in India's "own strategic interests" as the country works to diversify where it gets its energy.
He put it simply: "The buying of crude oil or LNG, LPG from the US is in India's own strategic interests as we diversify our oil sources."
Trade deal doesn't force anyone to buy from specific country
Goyal clarified that India's new trade deal with the US doesn't force anyone to buy from a specific country—companies still decide what and where to buy.
The big news? The deal makes trading easier, with both sides lowering tariffs.
The US has rolled back extra tariffs on Indian Russian oil imports and cut duties on Indian goods like textiles and footwear.
India will drop tariffs on some American products
India will drop tariffs on some American products like nuts, fruits, wine, and spirits.
The United States will remove reciprocal tariffs on items including generic medicines, gems and diamonds, and aircraft parts, subject to the successful conclusion of the Interim Agreement.
Plus, India plans to buy $500 billion worth of US products over five years.
Agreement also tackles non-tariff barriers
The agreement also tackles non-tariff barriers—think medical devices or tech standards—to make trading smoother for stuff like GPUs and data centers.
It's all about making business between India and the US simpler and more future-ready.