India and the United States have made progress toward a trade deal that could significantly reduce American tariffs on Indian goods to around 15 or 16 per cent, down from the current 50 per cent. This development, as reported in a national newspaper, follows US President Donald Trump's assertion that Prime Minister Narendra Modi has agreed to limit Russian oil purchases, which has been a major point of contention in the negotiations. The two leaders also spoke recently to discuss trade and energy cooperation. So, what is driving this renewed effort, and how close are the two sides to finalising an agreement?

<p>India and the United States have made progress toward a trade deal that could significantly reduce American tariffs on Indian goods to around 15 or 16 per cent, down from the current 50 per cent. This development, as reported in a national newspaper, follows US President Donald Trump's assertion that Prime Minister Narendra Modi has agreed to limit Russian oil purchases, which has been a major point of contention in the negotiations. The two leaders also spoke recently to discuss trade and energy cooperation. So, what is driving this renewed effort, and how close are the two sides to finalising an agreement?</p>

Welcome to the Daily News Dose Podcast by Onmanorama. Tune in to get updated about the major news stories of the day.

<p>Welcome to the Daily News Dose Podcast by Onmanorama. Tune in to get updated about the major news stories of the day.</p>

Daily News Dose

Welcome to the Daily News Dose Podcast by Onmanorama. Tune in to get updated about the major news stories of the day.04:09 PM