India-US trade deal: India reiterates energy security as top priority in response to Russian oil purchase - Details

MEA said, as quoted by ANI, "Insofar as India’s energy sourcing is concerned, the government has stated publicly on several occasions that ensuring the energy security of 1.4 billion Indians is the supreme priority of the government."

"Diversifying our energy sourcing in keeping with objective market conditions and evolving international dynamics is at the core of our strategy to ensure this. All of India’s actions are taken and will be taken with this in mind," the statement added.

The India-US trade deal, which has announced earlier this week, includes key concessions such as the US lifting a 50 per cent tariff on Indian exports impacted by Russian oil imports and a 25 per cent tariff on certain Russian imports sold in India. In return, India has agreed to lower duties on US goods like distilled spirits, grains, red sorghum for animal feed, tree nuts, fresh and processed fruits, soybean oil, wine, and spirits. Sectors like agriculture and dairy remain protected on both sides.

India-US trade deal: Zero tariffs on many exports

Union Minister for Commerce and Industry Piyush Goyal on Saturday has described the newly announced framework for an interim trade agreement between India and US as a landmark moment in India's journey toward becoming a developed nation by 2047. He said that there are zero tariffs on a wide range of Indian exports.

Addressing the media, Goyal said, "There are some people who don't care about farmers, who try to mislead the country, they are shocked today to see how this agreement has not done anything because of which our farmers can face loss."

Goyal listed out the products where India has not given any relief in the agreement. He said, "India has not given any relief in meat, poultry, soyabean, dairy products, maize, rice, wheat, cereals, sugar, millet, fruits like banana, strawberry, cherry, citrus fruits, green peas, moong, chana, oil seeds, animal feed products, or tobacco."

MEA statement | Top points