President Donald Trump has indicated that the United States is on the verge of striking a trade deal with India, after months of discussions between the two nations.
Trump Eyes Enhanced Economic And Security Ties With India
Trump, at the swearing-in of his envoy to India, Sergio Gor, on Monday, expressed optimism about the imminent deal.
“We’re getting a fair deal, just a fair trade deal,” Trump stated. “We’re making a deal with India, much different deal than we had in the past.”
He added, “Right now, they don’t love me, but they’ll love us again.”
According to Trump, the deal is expected to boost U.S. energy exports, enhance security co-operation, and encourage investments in key U.S. sectors.
India Reportedly Curbs Russian Oil Purchases
The potential trade deal follows a series of significant developments in U.S.-India relations. in October, Trump announced that Indian Prime Minister Narendra Modi had agreed to halt his country's purchase of Russian crude oil, a move that could significantly impact Moscow's ongoing war in Ukraine. Trump called this a “big step” in the administration's efforts to curtail funding for Russia's war against Ukraine.
Meanwhile, reports suggested that the U.S. imposed sanctions on Russian oil giants Rosneft and Lukoil to curb Moscow's energy revenue, prompting Indian refiners to scale back Russian oil imports. Reliance Industries, India's biggest buyer of Russian crude, announced plans to reduce or suspend shipments, saying it would comply with government guidelines.
Reliance, which runs the world's largest refinery in Jamnagar, sources nearly 500,000 barrels per day from Rosneft. India has been Russia's top seaborne crude buyer since 2022, importing around 1.7 million barrels per day in the first nine months of 2025.
Moreover, In September, India’s Commerce and Industry Minister, Piyush Goyal, indicated that a trade deal was likely to be finalized by November. This was despite “a little bit of geopolitical issues overtaking trade issues” in the negotiations.
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