India and the US agreed an interim trade agreement framework that includes provisions to meet India’s energy needs (crude oil, LNG and LPG) alongside reciprocal tariff cuts.

Including energy in the trade framework expands India’s supplier set for crude and gas, improving procurement leverage and lowering delivered input costs for refiners and large industrial consumers. The tariff schedule change (US cutting duties on Indian goods to 18% from 50%, India eliminating or reducing duties on US industrial goods and many US farm products) resets near-term landed-cost assumptions for importers/exporters on both sides. The stated $500B bilateral trade target by 2030 creates a planning anchor for long-lead contracting and capacity decisions tied to US-origin energy and industrial equipment flows.