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Sorting out Indo-US differences on trade: Mike Pompeo says ‘Modi hai to mumkin hai’

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7 years ago

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Mike Pompeo

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Expressing hope that India would lift trade barriers, US Secretary of State Michael Pompeo hinted that it was possible to reinstate the Generalized System of Preferences (GSP), a programme for preferential access to certain goods markets in the US, for India.

Pompeo is expected to discuss this as well as 5G network technology and data localisation while in New Delhi later this month on a visit. He will travel to India, Sri Lanka, Japan and South Korea from June 24 to 30. Mike Pompeo’s four-nation tour is aimed at deepening US partnerships in the strategic Indo-Pacific region.

Putting his own spin on the BJP poll slogan, Pompeo, in a speech at the India Ideas Summit of US-India Business Council on Wednesday, June 12, said: “As Prime Minister (Narendra) Modi said in his latest campaign, ‘Modi hai to mumkin hai,” or ‘Modi makes it possible”, I am looking forward to explore what’s possible between the US and India.”

“I am very much looking forward to my trip to New Delhi later this month, and meeting PM Modi, and my new counterpart, External Affairs Minister S Jaishankar,” he said.

Mike Pompeo listed out some of the “big ideas and big opportunities” that can take bilateral relationship between US and India to a new level.

He said differences between the two countries remain in some of the key trade and business issues, he acknowledged. “We’ll probably discuss the recent decision about the GSP program…we remain open to dialogue, and hope that our friends in India will drop their trade barriers and trust the competitiveness of their own companies, their own businesses, their own people and private sector companies,”

In addition to GSP, data localisation regulations and proposed policies have been a source of friction between the two countries.

“We’ll also push for free flow of data across borders, not just to help American companies, but to protect data and secure consumers’ privacy,” Pompeo said.

“And speaking of privacy, we are eager to help India establish secure communications networks — including 5G networks as well,” Pompeo said.

The Trump administration is pushing its allies and partner countries to block the Chinese telecom giant Huawei from participating in building their next generation (5G) telecommunication networks and has put Huawei on a trade blacklist for US companies.

Pompeo went to some lengths to stress that the US understood India’s post-Independence economic history and current geopolitical realities, Pompeo touched on a common theme — a India-US partnership based on values.

India and the US, he said, must embrace the strategic framework that works for both the nations. “We get it. We respect India as a sovereign power, with its own unique politics and strategic challenges. We realize it’s different to deal with the likes of China and Pakistan from across the ocean than it is when they are on your borders. That’s why in this room and not so many months ago, I elaborated on President Trump’s vision for a free and open Indo-Pacific,” Pompeo said.

Giving a preview of his India mission, he said he truly believes the two nations have a unique opportunity to move forward together for the good of their people, the Indo-Pacific region, and the world.

Making a strong case for a free and open Indo-Pacific, he said it starts from the premise that the two share common values of democracy, freedom, and a belief in the ingenuity of the human spirit. “It’s only natural that the world’s most populous democracy should partner with the world’s oldest democracy to maintain their shared vision for the Indo-Pacific.”

“Third, we have to deliver,” Pompeo said.

He said under President Donald Trump, the US has taken defence cooperation to newer heights, solidified their common vision for the Indo-Pacific and taken a far tougher stand on Pakistan’s unacceptable support for terrorism.

“Forging strong ties means formalizing these individual friendships. Last year, we kicked off the ‘2+2 dialogue’ alongside the Department of Defence. We’ve also reinvigorated the Quad Dialogue among India, the United States, Japan, and Australia – all like-minded democracies in the Indo-Pacific. These are all good steps,” he said.

The Trump Administration has already enabled American companies to export more high technology items to India, including cutting-edge defence platforms like armed UAVs and ballistic missile defence systems. “We’ve already launched the Asia-EDGE programme, to help India raise private capital to meet its energy security and access needs,” he said.

“These are solid achievements, but we want to do much more. We clearly have overlapping interests in defence, energy, and space,” he said.

Mike Pompeo said the first batch of India’s Apache helicopters are coming off Boeing’s production line in Arizona. Lockheed Martins F-21 and Boeing’s F/A-18 are state-of-the-art fighters that could give India the capabilities it needs to become a full-fledged security provider in the strategic Indo-Pacific region.

On space, NASA is already working with the Indian Space Research Organisation on the world’s most advanced earth-observation satellite and India’s second lunar mission.

Pompeo also used the dais to make a pitch for US crude oil and natural gas during a question answer session with LNG company Tellurian’s CEO, Meg Gentle.

“On energy, we want to complete the Westinghouse civil nuclear project, and deliver more American LNG and crude,” he said adding that these steps will give Indians reliable and abundant energy and help reduce dependence on regimes like Iran and Venezuela.

“We’ve been blessed with abundant affordable energy right here in the United States, and we’re now out producing it at enormous levels, not just crude oil but natural gas as well,” Pompeo said, adding that the U.S. would need to ensure that it had the infrastructure for delivery.

Under threat of US sanctions, India had, reluctantly, stopped oil imports from Venezuela and Iran, India’s ambassador to the US Harsh Vardhan Shringla told the press at the end of May. On Monday, Petroleum Minister Dharmendra Pradhan spoke with U.S. Energy Secretary Rick Perry about volatile oil prices and energy security.

“They [buyers of US fuel] can have a fully diversified energy portfolio where they don’t have to rely on nations that aren’t as reliable as the United States,”  Pompeo said.[/vc_column_text][/vc_column][/vc_row]

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Moscow says no word from India on stopping Russian oil purchases

Russia says it has received no confirmation from India on stopping Russian oil purchases, despite Donald Trump’s claim that the move was part of a new India-US trade deal.

Published

6 hours ago

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February 4, 2026

By

Vladimir Putin

The Kremlin on Tuesday said it has not received any official communication from India regarding a halt in Russian oil purchases, following claims by US President Donald Trump that New Delhi had agreed to stop buying Russian crude as part of a trade agreement with Washington.

Kremlin spokesperson Dmitry Peskov told reporters that Moscow had not heard any confirmation from Indian authorities on the matter.

“So far, we haven’t heard any statements from New Delhi on this matter,” Peskov said, responding to Trump’s remarks linking reduced US tariffs on Indian goods to an alleged commitment by India to end Russian oil imports.

Russia stresses importance of ties with India

Peskov said Russia respects bilateral relations between India and the United States but underlined the strategic importance of ties between Moscow and New Delhi.

“We respect bilateral US-Indian relations,” he said, adding that Russia places equal importance on its strategic partnership with India.
“This is the most important thing for us, and we intend to further develop our bilateral relations with Delhi.”

What Trump claimed

Trump announced the India-US trade deal on Monday, stating that tariffs on Indian goods had been reduced from 50 per cent to 18 per cent. He claimed the reduction was linked to India agreeing to stop purchasing Russian oil.

According to Trump, India would instead buy more oil from the United States and potentially from Venezuela. He also suggested that the move would help bring an end to the war in Ukraine.

“He agreed to stop buying Russian oil and to buy much more from the United States and, potentially, Venezuela,” Trump said, referring to Prime Minister Narendra Modi.

India’s reliance on Russian crude

India has emerged as one of the largest buyers of Russian crude since the start of the Ukraine conflict. It currently imports around 1.5 million barrels of Russian oil per day, accounting for more than one-third of its total oil imports, according to global trade data.

India is the second-largest purchaser of Russian crude globally. Even after earlier US tariff measures on Indian goods, New Delhi continued its Russian oil imports, citing energy security concerns.

The Indian government has consistently maintained that securing affordable energy supplies is critical, given the country’s heavy dependence on oil imports.

Shift in energy ties after Ukraine war

Historically, India’s relationship with Russia was centred more on defence cooperation than energy trade, with Russia supplying a majority of India’s military equipment while contributing only a small share of its oil imports.

After the invasion of Ukraine, India significantly increased purchases of discounted Russian oil. The move helped India boost energy supplies while providing Russia with much-needed revenue amid Western sanctions.

As recently as December 2025, Russian President Vladimir Putin said during a visit to New Delhi that Moscow was ready to ensure uninterrupted fuel supplies to India despite pressure from the United States.

Earlier US push for Indian energy imports

Trump had earlier said, following a meeting with Prime Minister Modi in February last year, that India would begin buying more American oil and natural gas. However, those discussions did not lead to a major shift in India’s energy sourcing.

Subsequent US tariff measures also failed to significantly alter India’s stance on Russian oil imports.

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India News

Markets surge as Nifty jumps 750 points after India-US trade deal

Indian equity markets rallied sharply with Nifty and Sensex posting strong gains after the India-US trade agreement announcement.

Published

1 day ago

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February 3, 2026

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Sensex

The Indian equity markets opened sharply higher on Tuesday morning, buoyed by optimism following the announcement of a trade agreement between India and the United States.

In early trade, the Nifty jumped around 750 points, while the Sensex surged nearly 2,400 points, reflecting strong investor confidence hours after the deal was made public.

The rally came after US President Donald Trump announced that Washington would slash tariffs on Indian goods to 18 per cent from 50 per cent, as part of a broader trade agreement with New Delhi. In return, India agreed to halt purchases of Russian oil and lower trade barriers, according to the announcement.

President Trump shared the development in a post on his social media platform, calling it a major trade breakthrough. The announcement was followed by a message from Prime Minister Narendra Modi, who thanked the US President on behalf of the people of India for the decision.

Rupee opens stronger against dollar

The positive sentiment was also reflected in the currency market. The Indian rupee opened stronger at 90.40 against the US dollar, gaining 1.10 rupees in early trade, supported by expectations of increased foreign investor inflows following the deal.

Asian markets rebound

Asian markets also traded higher, adding to the positive global cues. Japan’s Nikkei rose about 2.5 per cent, recovering from previous losses, while South Korea’s KOSPI climbed nearly 4 per cent. Market sentiment was further supported by signs of improved US factory activity overnight.

Futures indicated a recovery in Hong Kong markets, while S&P 500 futures were up around 0.3 per cent, as investors tracked upcoming corporate earnings.

With global cues turning favourable and optimism surrounding the India-US trade agreement, Indian markets are expected to remain buoyant, with investors closely watching further developments during the trading session.

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Latest world news

Trump announces trade deal with India, claims New Delhi will stop buying Russian oil

Donald Trump announces a trade deal with India, reducing US tariffs to 18 per cent and claiming New Delhi will halt Russian oil purchases.

Published

1 day ago

on

February 3, 2026

By

US President Donald Trump on Tuesday announced that the United States and India have agreed to a trade deal that will reduce American tariffs on Indian goods from 25 per cent to 18 per cent. The announcement was made through a post on Trump’s social media platform, Truth Social.

According to Trump, the decision was taken “out of friendship and respect” for Prime Minister Narendra Modi and at the Indian leader’s request. He stated that the revised tariff would take effect immediately, with remaining formalities to be completed in the coming days.

Prime Minister Modi, in a post shortly after Trump’s announcement, thanked the US President for what he described as a significant step, expressing appreciation on behalf of India’s population.

Tariff reduction to be finalised soon

While neither government initially shared detailed terms of the agreement, the US ambassador to India later indicated that further clarity would follow. In an interaction with media, he confirmed that the overall tariff on Indian goods entering the US market would stand at 18 per cent once the deal is formally concluded.

He added that some procedural aspects are still pending, but the tariff rate itself has been agreed upon and is not expected to change.

Trump also claimed that India would move to reduce its own tariffs and non-tariff barriers on US goods to zero, though no official statement from the Indian side has detailed such measures so far.

Claim on Russian oil purchases

In his post, Trump further asserted that India has agreed to stop buying Russian oil and instead increase its energy purchases from the United States and potentially Venezuela. He linked this claim to broader geopolitical developments, stating that such a move would contribute to ending the war in Ukraine.

There has been no official confirmation from New Delhi regarding any commitment to halt Russian oil imports.

Timing linked to wider trade developments

The announcement comes soon after India concluded a major free trade agreement with the European Union following prolonged negotiations. That agreement provides India with expanded access to the EU market, particularly in pharmaceuticals and medical devices, and is expected to support manufacturing, employment and MSMEs.

The tariff reduction by the US was also announced a day after India presented its annual budget, which included measures aimed at addressing challenges arising from higher US tariffs imposed earlier.

Background of stalled negotiations

Trade talks between India and the US had slowed in recent months after Washington imposed a steep tariff on Indian goods over continued energy purchases from Russia. Negotiations resumed following renewed engagement between the two sides, including high-level discussions between the two leaders.

Officials had earlier indicated that progress was being made toward a trade agreement, with cooperation expanding across areas such as technology, energy, defence and trade.

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