3 months ago
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The "historic" India-US commercialized statement is successful the last stages of detailing that volition beryllium completed "very soon", External Affairs Minister S Jaishankar said connected Thursday (February 5, 2026) aft holding wide-ranging talks with U.S. Secretary of State Marco Rubio.
The talks betwixt Mr. Jaishankar and Mr. Rubio successful Washington DC came 3 days aft U.S. President Donald Trump, pursuing a telephone speech with Prime Minister Narendra Modi, announced simplification of U.S. tariffs connected Indian goods to 18% from 50% nether the commercialized deal.
The External Affairs Minister said the commercialized woody volition unfastened up a "new phase" successful the relations.
Except a confirmation connected bringing down the U.S. tariffs, including the removal of a 25% levies imposed connected India by Washington implicit Russian vigor purchases, nary factual details of the commercialized woody person travel retired truthful far.
Mr. Jaishankar, successful a societal media post, described his sojourn to the U.S. arsenic "productive" and "positive".
"The historical India-US commercialized woody is successful the last stages of detailing that volition beryllium completed precise soon. It opens up a caller signifier successful our bilateral ties, with immense possibilities for the relationship," helium said.
"Our captious mineral practice is besides advancing rapidly. Expect engagement connected strategical issues, defence and vigor successful the coming days. Overall, a beardown momentum is evident," helium said.
Mr. Jaishankar was successful Washington DC to be a U.S.-led ministerial gathering connected captious minerals.
India-U.S. ties person been reeling nether terrible accent aft Mr. Trump doubled tariffs connected Indian goods to a whopping 50% including a 25% further duties for India's acquisition of Russian crude oil.
Apart from the tariff issue, the relations witnessed a downturn connected a fig of different issues that included Mr. Trump's assertion of ending the India-Pakistan struggle successful May past twelvemonth and Washington's caller migration policy.
Following his telephone talks with Mr. Modi, Mr. Trump claimed that India had agreed to halt buying Russian oil, and to bargain much from the US and Venezuela.
To a question connected the U.S. President's remarks, External Affairs Ministry spokesperson Randhir Jaiswal said astatine a media briefing that ensuring the vigor information of 1.4 cardinal Indians is the ultimate precedence of the government.
"Diversifying our vigor sourcing successful keeping with nonsubjective marketplace conditions and evolving planetary dynamics is astatine the halfway of our strategy to guarantee this. All of India's actions are taken and volition beryllium taken with this successful mind," helium said.
Mr. Jaiswal besides noted India's long-standing vigor ties with Venezuela.
"The state was among India's large sources of crude lipid until FY 2019'20, which were discontinued pursuing sanctions. Imports from Venezuela resumed successful FY 2023'24, earlier being halted again owed to the re-imposition of sanctions," helium said.
Mr. Jaiswal said Indian nationalist assemblage lipid companies person had a concern with Venezuela's National Oil Company, PdVSA and person been maintaining a beingness successful Venezuela since 2008.
"Consistent with India's attack to vigor security, India remains unfastened to exploring the commercialized merits of immoderate caller crude proviso options, including from Venezuela," helium said.
On U.S. tariffs connected Indian goods, Mr. Jaiswal referred to Mr. Modi's comments pursuing the speech with Trump.
"The Prime Minister noted that Made successful India products volition present beryllium exported to the U.S. astatine a reduced tariff of 18%," the MEA spokesperson said.
"This commercialized statement volition springiness a large boost to India's export, labour intensive industries, occupation creation, maturation and bring prosperity to our people. The U.S. broadside has besides clarified that the last fig of tariff is 18%," helium said.
