India and the United States are reportedly close to finalising a long-awaited trade agreement that could reduce US tariffs on Indian goods to around 15–16% from the current 50%, reported Mint. .

According to the report, the proposed agreement mainly focusses on the energy and agriculture sectors. One of the key elements under discussion is India’s gradual reduction of crude oil imports from Russia, a move that aligns with Washington’s efforts to limit global dependence on Russian energy supplies.

Officials familiar with the talks told Mint that the discussions are in their final phase, with both sides working to conclude the deal before the upcoming ASEAN Summit later this month, where a formal announcement could be made.

When asked for a response, India’s Ministry of Commerce and Indus

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