India and the United States have agreed to begin negotiations for an early trade deal, aiming to resolve their tariff standoff and boost economic ties. As part of the discussions, India has pledged to increase imports of U.S. oil, gas, and military equipment.

The agreement follows a meeting between Prime Minister Narendra Modi and President Donald Trump, where both leaders emphasized expanding bilateral trade. The proposed deal, expected to be finalized by late 2025, could help push U.S.-India trade past $500 billion by 2030.

India’s commitment comes as Trump pushes “reciprocal” tariffs, which aim to match duties imposed by other nations on U.S. goods. In response, New Delhi has expressed willingness to address trade imbalances while strengthening its defense cooperation with Washington.