India eyes diverse energy import sources, to ensure stable and affordable supply
The Foreign Secretary's statement came amid questions over India's purchases of Russian oil, following remarks by US President Donald Trump last week that India had "committed to stop directly or indirectly" importing Russian crude.
India will continue to source energy from a wide range of suppliers and diversify imports when required, Foreign Secretary Vikram Misri said on Monday, stressing that the country’s priority is to ensure stable and affordable energy for consumers.
Addressing a media briefing in New Delhi, Misri said India’s energy policy aims to provide "adequate energy at the right price through reliable and secure supplies".
His statement came amid questions over India’s purchases of Russian oil, following remarks by US President Donald Trump last week that India had "committed to stop directly or indirectly" importing Russian crude.
Misri reiterated that India’s energy decisions are guided by consumer interests, with emphasis on availability, pricing and dependability.
He said India does not rely on a single source for crude oil and does not "intend to be". Instead, the country imports oil from a "mix of sources," determined by "objective market conditions".
He added that "national interests" remain the key factor guiding decisions by both the Indian government and domestic energy companies when sourcing energy.
The statement comes amid evolving trade relations between India and the US. Last week, Trump signed an executive order lifting a 25 per cent punitive tariff on all imports from India. The tariff had been imposed earlier over India’s continued imports of Russian oil.
Russia reacted cautiously to India’s stance. The Kremlin said it saw nothing new in India’s emphasis on diversification, noting that the approach aligns with India’s long-standing energy policy of sourcing oil from multiple suppliers.
Recent trade data shows that India’s imports of Russian oil declined in January, as Indian refiners sought alternative supplies amid Western sanctions and ongoing trade negotiations with the US.
Alongside energy issues, India and the US have announced a framework for an interim trade deal aimed at deepening economic ties.
Under the framework, India will reduce or eliminate tariffs on all US industrial goods and a wide range of agricultural products, while continuing to protect sensitive sectors.
India has also committed to reviewing standards and testing norms within six months, a step expected to ease imports of advanced manufacturing and technology inputs and lower costs for Indian industries.
Commerce Minister Piyush Goyal said the agreement "completely protects sensitive agricultural and dairy products," ensuring continued support for rural livelihoods.
He added that duty-free access for sectors such as pharmaceuticals, gems and diamonds would "further enhance India’s export competitiveness and Make in India".
A joint US-India statement described the framework as "a historic milestone," reaffirming the commitment to broader trade negotiations launched last week by Trump and Prime Minister Narendra Modi.