India and the United States are nearing a long-stalled trade agreement that would reduce U.S. tariffs on Indian imports to 15% to 16% from 50%, India's Mint reported on Wednesday citing three people aware of the matter.

Trump insists he has been promised India will stop importing Russian oil – and vows ‘massive’ tariffs until that happens

India and the US are close to finalizing a major trade deal that may slash US tariffs on Indian imports to 15-16%, with key focus areas including energy and agriculture.

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.

The United States and India are nearing a significant trade deal that could see the current 50 percent tariff rate on Indian exports slashed to as low as 15 to 16 percent, the Mint newspaper reported,

India's exports to the US have plummeted by 20.3% in September 2025, reaching $5.5 billion, due to Washington's imposition of 50% tariffs. This marks

Finalisation of a trade deal is likely to be announced at the ASEAN Summit during a meeting between Donald Trump and Narendra Modi this month. | Latest News India

Indian ETFs like INDA and FLIN gain spotlight as U.S.-India trade deal seems to near, which could slash tariffs and reignite investor confidence.