India and the United States are reportedly close to finalising a long-pending trade agreement that would bring down US tariffs on Indian imports to 15–16% from the current 50%, according to Mint, citing three sources familiar with the talks.

The deal, which revolves around energy and agriculture, could see India gradually reduce its dependence on Russian crude oil. Neither India’s Ministry of Commerce and Industry nor the White House has issued an official statement.

US President Donald Trump said he spoke to Prime Minister Narendra Modi on Tuesday, focusing largely on trade and energy.

Trump noted that Modi assured him India would limit oil imports from Russia. Modi confirmed their conversation on X, thanking Trump for his Diwali greetings and highlighting the strong partnership betwee

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