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Driving the newsIndia has committed to significantly scale up purchases of US petroleum, defence systems, and commercial aircraft under a newly announced trade deal that US President Donald Trump framed as a.
Last Updated:February 03, 2026, ISTLower US tariffs mean Indian exporters face fewer cost barriers to enter the American market, especially in sectors like textiles, apparel, seafood, chemicals and auto.
Trump said that India would also start to reduce its import taxes on US goods to zero and buy $500 billion worth of American products.
Trump said that India has agreed to stop buying Russian oil and buy much more from the US and potentially Venezuela, and has agreed to purchase $500 billion worth of US energy, agriculture, coal and other products under the trade deal.
