A big highlight in the interim trade deal framework between India and the US is that India is planning to buy products worth $500 billion from the US in the next 5 years. This includes energy, minerals, technology products and aircraft parts. The objective of the deal is not only to increase trade but also to create strong and reliable supply chains. Crude oil, LNG and coking coal imports from the US are increasing rapidly, due to which the US has now become one of the top oil suppliers to India. However, it will be necessary to balance factors like discounted oil from Russia, higher freight cost and refinery compatibility. Overall, this deal is an important step towards diversifying India’s energy security.
India–US Trade Deal: Energy Security will get a new push from $500 billion Imports. Money Live | India-US Trade Deal: $500 billion in imports will give a new push to energy security
