Piyush Goyal: US Crude, LNG Purchases Strategic for India's Diversified Oil Sources

• Union Minister Piyush Goyal dismissed claims of India ceding sovereignty in the India-US interim trade agreement, calling it "absolute nonsense."
• Goyal stated that buying crude oil, LNG, or LPG from the US is in India's strategic interest for diversifying oil sources, with purchasing decisions made by companies.
• The trade deal focuses on preferential access and smooth trade pathways, not dictating specific purchases.
• The interim agreement aims to create opportunities across sectors like youth, women, farmers, MSMEs, textiles, and handicrafts.
• India and the US announced a framework for an Interim Trade Agreement, with India reducing tariffs on US goods and the US imposing 18% tariffs on select Indian goods.