NEW DELHI: Oil and gas imports are emerging as a standout factor in the ongoing bilateral trade talks between the US and India, as the latter races to cement a strategy before the reciprocal tariff deadline of April 2 laid down by US President Donald Trump.
To assuage Trump and the US, India plans to increase the share of West Texas Intermediate or WTI crude in the country's import basket, which could even entail setting of a quota, three people aware of the developments said on condition of anonymity. WTI is the US benchmark for crude oil, while Brent crude is the benchmark for oil sourced from the North Sea area in Europe, largely produced by the UK and Norway.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Nuclear talks: Iran to respond to Trump's letter after scrutiny
Iran will respond to US President Donald Trump's invitation to talks after proper scrutiny, the foreign ministry said on Monday, accusing Washington of not matching actions with words.
Cop, 3 Others Held in Fake Currency Case
Four people, including an assistant sub-inspector (ASI) from the state armed police forces, have been arrested in Raichur for their alleged involvement in a counterfeit currency racket, an officer said on Monday.
Money laundering cases erode public trust: Plea by ex-Guj officer junked
SHARMA HAS BEEN ACCUSED OF GIVING INDUSTRIAL LANDS TO FIRMS AT LOWER RATES
Heatwave likely in parts of state on March 18, 19: IMD
The India Meteorological Department (IMD) on Monday issued a heatwave warning amid rising temperatures across North interior Karnataka till March 19.
Right versus Left in a deeply polarised world
Italian Prime Minister (PM) Giorgia Meloni has set the cat among the pigeons by floating a global right-wing alliance which is coalescing to counter Leftist political ideas and movements worldwide.
India Calls For US Action On Pro-Khalistan Group
Defence minister Rajnath Singh on Monday flagged India's concerns about the activities of US-based secessionist group Sikhs for Justice (SFJ), which has called for the creation of Khalistan, and its links with Pakistan's spy agency Inter-Services Intelligence, during talks with US Director of National Intelligence Tulsi Gabbard, people aware of the matter said.
File FIR Against Unauthorized Flexes, Banners, Says Civic Body
Chief Commissioner Tushar Giri Nath has instructed the officers to \"remove\" flexes and banners installed \"illegally\" in Bruhat Bengaluru Mahanagara Palike (BBMP) limits and register FIRs, the civil body said in an official statement.
Torrent Acquires 67% Stake in Gujarat Titans
Ahmedabad-based Torrent Group on Monday said it has completed the acquisition of a majority 67 percent stake in IPL franchise Gujarat Titans ahead of the start of a new season.
Russia Demands 'Ironclad' Guarantees in Ukraine Deal
Russia will seek \"ironclad\" guarantees in any peace deal on Ukraine that NATO nations will exclude Kyiv from membership and that Ukraine will remain neutral, a Russian deputy foreign minister said in remarks published on Monday.
₹120-cr aid to B'desh remains unchanged: MEA
₹6,750 crore of MEA's ₹20,516 cr budget for FY26 is meant for giving foreign aid to further India's bilateral relations
