New Delhi, Oct 20 (NationPress) Progress has been made in trade discussions between India and the US regarding the tariff issue, although New Delhi has made it clear that it is not in a hurry to finalize an agreement.

Leading the Indian trade delegation, Commerce Secretary Rajesh Agrawal reportedly engaged in fruitful dialogues with US officials in Washington last week, as per a senior official's comments.

During the Trump administration, the US adopted a tougher stance on India's purchases of Russian oil, but New Delhi has assured Washington that it will enhance its imports of American oil and gas. As the second-largest oil and gas consumer globally, India's increased imports could help mitigate the US trade deficit with India, a concern raised by Washington.

Commerce and Industry Minister Piyush Goyal emphasized that while the negotiations are proceeding in a "very cordial atmosphere," they are not bound by strict deadlines.

"No agreement will be reached unless we adequately address the needs of India's farmers, fishermen, and the country's MSME sector," he stated.

Recently, US President Donald Trump claimed that Prime Minister Narendra Modi assured him of a reduction in India's purchase of Russian crude oil.

In response, India clarified on Thursday that its oil and gas import policy is guided solely by the interests of the Indian consumer, especially in a fluctuating global energy market.

"India is a major oil and gas importer, and it is our consistent priority to protect the interests of the Indian consumer amid an unpredictable energy landscape. Our import policies are entirely aligned with this objective. Our dual goals are to ensure stable energy prices and secure supplies, which also involve diversifying our energy sources to adapt to market conditions," stated Randhir Jaiswal, Minister of External Affairs.

He further noted, "When it comes to the US, we have been looking to broaden our energy procurement for many years, and this has steadily advanced over the past decade. The current administration shows a keen interest in enhancing energy cooperation with India, and discussions are ongoing."

On Wednesday, Commerce Secretary Agrawal revealed that energy imports from the US—primarily crude oil—have decreased from $25 billion to approximately $12–13 billion over the past seven to eight years. "This leaves us with a purchasing capacity of $12–15 billion without concerns about refinery configurations," he commented when asked about increasing oil imports from the US to finalize a deal.

"There is a bilateral commitment, and in our ongoing discussions, we have positively indicated that India, as a nation, is eager to diversify its energy import portfolio. This is the most effective strategy for a major buyer like India," he concluded.