India is making “solid progress” in trade talks with the U.S. aimed at securing a trade deal and reducing punitive tariffs, Bloomberg News reported Sunday.
An Indian official said both sides have “narrowed their differences” and that there are “no major disagreements” on trade issues.
Indian negotiators held positive meetings in Washington last week.
After previously imposing 50% tariffs and criticizing India’s purchases of Russian oil, U.S. President Trump has recently softened his stance and spoken with Prime Minister Narendra Modi twice.
Trump said India would stop buying Russian oil, though it would happen gradually.
New Delhi responded that energy decisions would prioritize consumer interests, and state refiners signaled plans to cut Russian imports while boosting U.S. purchases.
Russia currently supplies about one-third of India’s total crude imports despite U.S. pressure to curb such flows.