India considers fixed quota for US oil imports

India is negotiating a bilateral trade agreement with the US, focusing on increasing oil and gas imports. The government may set a fixed quota for US oil imports, aiming to raise the current share of 4.53% in its total oil imports. India plans to enhance its energy ties with the US, following a recent meeting between Prime Minister Modi and President Trump. The US is currently the fifth-largest oil supplier to India, with imports declining slightly in volume but increasing in value. The US is also the second-largest supplier of liquefied natural gas to India. New LNG facilities are expected to boost supplies by 2026. India seeks to avoid high tariffs on imports while balancing trade with the US, which has a significant trade deficit with India.