US President Donald Trump and Prime Minister Narendra Modi announced a trade agreement that cuts US reciprocal tariffs on Indian goods from 50 per cent to 18 per cent. In return, India has agreed to ease barriers on American imports and gradually halt Russian oil purchases while increasing US energy, technology, and agricultural imports. This is set to make a range of products more affordable for consumers and businesses on both sides. What Will Get Cheaper For Indian Consumers? Food and Agriculture: Pulses, dairy products, and processed foods could see lower prices as import levies ease. Electronics and Tech: Laptops, gadgets, and other tech components may become more competitively priced. Consumer Goods: Packaged foods, household appliances, and other imported items could become more accessible due to reduced costs. For Indian Exports To The US Textiles and Apparel: Lower US tariffs will make Indian clothing and fabrics more competitive in the American market. Gems and Jewellery: Exporters may gain better pricing and market share. Industrial Goods: Steel, chemicals, and engineering products could face fewer trade hurdles, improving access and reducing costs. What May Remain Expensive Some industrial items like steel, aluminum, copper, and certain auto components could still carry high tariffs under existing US trade rules, keeping prices relatively elevated. India-US Trade Deal This new tariff structure puts India ahead of regional competitors like China, Pakistan, Bangladesh, and Vietnam, which face higher US tariffs, while developed economies like the EU, Japan, South Korea, and the UK enjoy even lower rates. India imports around 1.5 million barrels per day of Russian crude, over a third of its total imports. Replacing Russian oil with Venezuelan or US crude requires significant investment, given Venezuela's production constraints and infrastructure challenges.

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New Delhi: Russia said India is free to buy oil from any country after US President Donald Trump claimed India has agreed to stop buying Russian oil as part of the trade deal between New Delhi and Washington signed earlier this week. The Kremlin noted that Moscow is not the only crude supplier for New Delhi, and there is nothing new about India's decision to diversify its crude suppliers. India has been importing around 1.5 million barrels of Russian crude per day, even after Trump imposed 25 per cent punitive tariffs on Indian goods, according to Kpler, a global trade data provider. New Delhi is the second-largest purchaser of Russian crude, making it over one-third of the overall Indian imports. India is free to buy oil from any country, and there is nothing new about its decision to diversify its crude suppliers, Kremlin Spokesman Dmitry Peskov said while responding to a question on the US claim that Prime Minister Narendra Modi had agreed to switch India's crude purchase from Russia to the United States and, potentially, from Venezuela.

India’s Parliament continued discussions during the Budget Session as the Prime Minister criticised opposition parties over governance and policy matters. The session included heated debates, reactions from multiple leaders, and discussions on economic priorities for the upcoming financial year.

India’s Parliament continued discussions during the Budget Session as the Prime Minister criticised opposition parties over governance and policy matters. The session included heated debates, reactions from multiple leaders, and discussions on economic priorities for the upcoming financial year.

India’s Parliament continued discussions during the Budget Session as the Prime Minister criticised opposition parties over governance and policy matters. The session included heated debates, reactions from multiple leaders, and discussions on economic priorities for the upcoming financial year.

India’s Parliament continued discussions during the Budget Session as the Prime Minister criticised opposition parties over governance and policy matters. The session included heated debates, reactions from multiple leaders, and discussions on economic priorities for the upcoming financial year.

India’s Parliament continued discussions during the Budget Session as the Prime Minister criticised opposition parties over governance and policy matters. The session included heated debates, reactions from multiple leaders, and discussions on economic priorities for the upcoming financial year.

India’s Parliament continued discussions during the Budget Session as the Prime Minister criticised opposition parties over governance and policy matters. The session included heated debates, reactions from multiple leaders, and discussions on economic priorities for the upcoming financial year.

India’s Parliament continued discussions during the Budget Session as the Prime Minister criticised opposition parties over governance and policy matters. The session included heated debates, reactions from multiple leaders, and discussions on economic priorities for the upcoming financial year.

India’s Parliament continued discussions during the Budget Session as the Prime Minister criticised opposition parties over governance and policy matters. The session included heated debates, reactions from multiple leaders, and discussions on economic priorities for the upcoming financial year.

India’s Parliament continued discussions during the Budget Session as the Prime Minister criticised opposition parties over governance and policy matters. The session included heated debates, reactions from multiple leaders, and discussions on economic priorities for the upcoming financial year.

India’s Parliament continued discussions during the Budget Session as the Prime Minister criticised opposition parties over governance and policy matters. The session included heated debates, reactions from multiple leaders, and discussions on economic priorities for the upcoming financial year.

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