Overview

• Commerce Secretary Rajesh Agrawal will join the Indian delegation in the United States tomorrow for the latest engagement on the proposed bilateral trade pact.
• India signaled it could increase U.S. energy purchases by about USD 12–15 billion at the right price to diversify supplies and ease concerns over a USD 45.8 billion merchandise gap.
• Energy imports from the United States have dropped over the past 7–8 years from roughly USD 25 billion to about USD 12–13 billion, creating room for higher buying.
• Indian officials said the U.S. government shutdown has reduced available counterparts, so the sides are mapping a pathway rather than holding a full-fledged round.
• Steep U.S. tariffs of up to 50 percent, including a 25 percent levy tied to Russian crude, remain the central obstacle as five rounds are completed and a first-tranche target is set for fall 2025.