New Delhi: India and the United States are nearing a long-delayed trade deal that would reduce US tariffs on Indian imports from 50% to between 15% and 16%, according to a report by Mint.

The deal, which centres on energy and agriculture, may also see India gradually scale back its imports of Russian crude oil. As part of the agreement, India may allow increased imports of non-genetically modified US corn and soymeal, Mint reported. Read Also US President Donald Trump Says India Reducing Russian Oil Purchases, PM Modi Acknowledges Call But...

The finalisation of the bilateral trade deal is likely to be announced at the ASEAN Summit, scheduled to be held later this month.

US President Donald Trump said on Tuesday that he had spoken to Prime Minister Narendra Modi, with their discussi

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