The move comes after months of President Donald Trump's pressing India to cut its reliance on cheap Russian crude.

Donald Trump said he was lowering the tariff on India as part of a deal for the country to stop buying Russian oil and increase purchases from the United States.

India’s prime minister, Narendra Modi, confirmed the reduction in tariffs, though he was mum on Mr Trump’s claim that India had committed to buy more American goods, including $500bn worth of energy and agricultural products.

Throughout the negotiations with the United States, Piyush Goyal’s messaging remained consistent. India was open to deeper trade integration but would not accept terms that harmed farmers, MSMEs, or domestic manufacturing.

By Aftab Ahmed and Shivangi Acharya Feb 2 (Reuters) - U.S. President Donald Trump said on Monday he had agreed on a trade deal with India, and that New Delhi also agreed to stop buying Russian oil and buy more from the U.

The relationship between India and Canada has been visibly on the mend since Mr. Modi attended the Group of 7 summit in Alberta at Mr. Carney’s invitation in June 2025, shortly before the shock of the American tariffs.

There could be a renewed push to conclude a U.S.-India trade deal, analysts say, as the White House sees other countries signing trade deals.

SINGAPORE, Feb 3 (Reuters) - Indian stocks and the rupee are set for strong gains on Tuesday after a trade deal that slashes U.S. tariffs on Indian goods to 18% from 50% in exchange for India halting Russian oil purchases and lowering trade barriers.

BBC Indian Sportswoman of the Year Awards honour sportswomen who have broken barriers, inspired millions, and elevated India's presence on the global sporting stage

India and the United States have agreed to a trade deal under which Washington will slash its tariff on Indian goods to 18 per cent from the current 50 per cent in exchange for New Delhi halting Russian oil purchases and lowering trade barriers.