The United States and India have finalized an Interim Trade Agreement marking a major milestone in bilateral ties. The deal includes a sharp U.S. tariff rollback on Indian goods and the removal of a 25 percent duty linked to Russian oil imports. India will reduce tariffs on U.S. industrial and agricultural products while gaining relief for key export sectors. Washington says India has committed to shifting energy purchases away from Russian oil, with strict monitoring provisions. New Delhi maintains its energy decisions remain guided by national interest, signaling a gradual transition rather than an immediate halt. Megha Murty explains.
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