India Looking To Expand Energy Partnership With US: Commerce Minister Piyush Goyal

India is exploring the possibility of importing more crude oil from the U.S. as part of a larger strategy to diversify its energy sources and reduce dependence on Russian supplies, Commerce and Industry Minister Piyush Goyal said at the U.S.–India Strategic Partnership Forum.

He emphasized that India is a major energy importer and anticipates increasing energy trade with the U.S. in the coming years to ensure stability and foster broader cooperation.

The minister noted that energy considerations will be central to ongoing trade talks between the two nations. New Delhi is pressing Washington to drop a 25% secondary sanctions charge on Indian exports and to lower reciprocal tariffs, thereby allowing enhanced energy trade and better terms.

Meanwhile, U.S. Energy Secretary Chris Wright voiced support for deeper collaboration in energy, spanning natural gas, coal, nuclear, and clean technologies, and described India as an “awesome ally” with rising energy demands.

Officials say that diversifying toward US energy can also help address India’s substantial trade deficit with the US, which reportedly surpassed $41 billion last year.

However, other key issues, such as the increased fees for H-1B visas and the US’ proposal to enter India’s agriculture and dairy markets, are yet to be discussed.

All Eyes on US-India Trade Negotiations

Talks between India and the US have been positive this week, as the two countries seek to find solutions and finalize a trade deal amid the 50% tariff on Indian goods.

In August, US President Donald Trump imposed an additional 25% tariff on Indian exports, criticizing the country’s purchase of the heavily discounted Russian crude and directly funding the war between Russia and Ukraine.

Earlier, Trump had imposed a reciprocal 25% tariff on Indian goods. The 50% tariff led to a strong selloff in key export sectors, including textiles, seafood, and jewelry.

“China and India are the primary funders of the ongoing war by continuing to purchase Russian oil,” Trump said at his speech at the United Nations General Assembly (UNGA) on Tuesday.

However, the tension seems to be easing with the US Secretary of State Marco Rubio indicating that the issue regarding the additional tariffs could soon be resolved. Earlier this week, Rubio also described India as a relationship of “critical importance” to the U.S.

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