On 4th June, an official said Indian imports could boost, as India could increase imports of US shale gas, LNG, and crude oil to diversify supply. This would allow India to take advantage of lower US prices.
This comes as India’s exports to the US rise. Both countries are preparing for a new round of talks on a bilateral trade agreement this week.
While India seeks a balanced deal, uncertainties persist due to potential US tariff hikes and legal issues. These issues include a court order that affects steel duties.
The US is India’s top trading partner, with trade reaching USD 131.84 billion in 2024–25. Additionally, plans aim to increase this to USD 500 billion by 2030.
India has reserved the right to impose retaliatory tariffs. The country will act in its national interest as global trade conditions evolve.
A first-phase trade deal between India and the US is expected by September–October 2025. It will focus on expanding multi-sector cooperation.
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