U.S., India Close to Clinching Trade Agreement
The president's remarks surfaced as the US formalized the appointment of Sergio Gor as its diplomatic representative to New Delhi, signaling renewed momentum in high-level negotiations between the world's two largest democracies.
"We're getting a fair deal, just a fair trade deal. We're making a deal with India, [a] much different deal than we had in the past," Trump said.
Negotiations between Washington and New Delhi had stalled after India resisted American pressure to liberalize its protectionist agricultural policies and grant greater market access to US dairy producers—key demands from the Trump administration.
The US previously implemented sweeping tariff measures against India totaling 50%, with 25% applied as reciprocal duties and the remainder imposed as retaliation for India's continued purchasing of Russian petroleum products, which Washington views as strategically problematic.
During the preceding week, Trump characterized dialogue with Prime Minister Narendra Modi as highly positive, noting the Indian leader's enthusiasm about a presidential visit and asserting that commercial negotiations were "going great."
Trump also asserted that India had begun diminishing its reliance on Russian energy sources. However, India's diplomatic establishment has consistently maintained that its energy procurement strategies are determined exclusively by domestic economic imperatives and consumer interests.
Indian Oil Corporation, the state-run petroleum enterprise, reiterated in October its commitment to continued Russian crude purchases provided such transactions remain compliant with international sanctions frameworks.
"Russian crude is not sanctioned. It is the entities and the shipping lines which have got sanctions," Anuj Jain, director of finance at IOC, said.
Recent data from Kpler demonstrated that Russian oil supplied approximately 34% of India's total petroleum imports during September, with daily shipments averaging roughly 1.8 million barrels.
The punitive tariff regime imposed by Washington has effectively positioned India alongside Brazil in terms of trade restrictions, creating substantial headwinds for Indian exporters across garments, precious stones and jewelry, footwear, furniture, and pharmaceutical chemicals sectors.
The US bilateral deficit with India reached $40.82 billion, as aggregate commercial exchange between the nations climbed to $132.2 billion during the 2024-25 fiscal year.
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