India to cut Russian oil purchases, U.S. to slash tariffs as they near trade deal: Indian media report
2025-10-22 18:55:10 source：CNBC
October 22, 2025
The U.S. could substantially slash tariffs on Indian exports as the two countries near a trade deal that could see New Delhi cutting oil purchases from Russia, Indian media outlet Mint reported Wednesday.
As part of the trade deal, Washington could slash tariffs on Indian exports to 15%-16% from the current 50%, Mint reported citing three unnamed sources aware of the matter.
India is also considering raising its import quota for non-genetically modified corn from the U.S. — currently 0.5 million tonnes annually — even with a import duty of 15%, while pushing for a mechanism under which both sides can revisit tariffs and market access over time, the report said.
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