India eyes expanded US vitality imports to diversify sources, steadiness commerce – OXBIG NEWS NETWORK-OxBig News Network

Paris [France], June 4 (ANI): India is exploring elevated imports of American shale fuel, liquefied pure fuel, and crude oil to diversify its vitality sources and leverage aggressive US pricing, a senior official stated as each international locations put together for contemporary bilateral commerce negotiations.

The technique comes as India seeks to steadiness its rising commerce surplus with the United States whereas capitalising on America’s vitality abundance and comparatively decrease costs in comparison with conventional suppliers.

“There are a number of issues we are able to purchase from the US – for instance, shale fuel, LNG, crude oil,” stated the official, who requested anonymity. “The extra diversified our sources, the better the profit for us. Prices are additionally low within the US.”

The vitality diversification plan aligns with India’s broader aim of lowering dependence on conventional suppliers whereas benefiting from America’s shale revolution, which has reworked the US into a serious vitality exporter.

India’s vitality imports from the US may assist deal with the bilateral commerce imbalance, the place India maintains a major surplus.

The US remained India’s largest buying and selling companion for the fourth consecutive 12 months in 2024-25, with bilateral commerce valued at USD 131.84 billion.

Negotiating groups from each international locations will start the following spherical of discussions this week in Paris on the proposed bilateral commerce settlement.

However, officers acknowledge vital uncertainties stemming from the Trump administration’s commerce insurance policies.

The official cited issues about potential elevated tariffs on metal and ongoing authorized challenges to US tariff choices.

“Numerous uncertainties are there at current,” the official stated, referring to developments together with courtroom orders affecting US tariff insurance policies.

Despite these challenges, India stays dedicated to discovering mutually useful pathways.

“Within the constraints of uncertainties, India has to search out pathways that are good for the nation,” the official acknowledged.

The bilateral commerce framework introduced in February by President Donald Trump and Prime Minister Narendra Modi goals to barter the primary part of a complete commerce settlement by fall 2025.

The bold aim seeks to greater than double bilateral commerce to USD 500 billion by 2030 from the present USD 191 billion.

Currently, the US accounts for roughly 18 per cent of India’s whole items exports, 6.22 per cent of imports, and 10.73 per cent of the nation’s whole merchandise commerce, making it a vital financial companion.

India has already reserved its proper to impose retaliatory tariffs in opposition to US duties on metal and aluminium and has sought World Trade Organization consultations on US tariffs affecting auto parts. When requested about potential comparable measures on further merchandise, the official emphasised India’s dedication to defending its pursuits.

“We will see what is nice for India… accordingly we are going to take choices,” the official stated, noting the present local weather of uncertainty affecting commerce coverage choices.

While India seeks a “balanced and mutually useful commerce settlement,” officers acknowledge that remaining phrases will depend upon comparative benefits.

“What we get as in comparison with different international locations will decide what we in the end finalise within the deal,” the official defined.

The vitality import enlargement represents one concrete space the place each international locations may gain advantage – India good points provide diversification and aggressive pricing, whereas the US expands its export market and helps cut back the commerce deficit. (ANI)

(The story has come from a syndicated feed and has not been edited by OXBIG NEWS NETWORK Staff.)