Government India will continue to buy crude oil from countries where it will get the cheapest and best quality oil, he told a parliamentary committee on Tuesday. Along with this, Indian oil companies will purchase oil keeping in mind the geopolitical situation and non-restricted sources. According to sources, top officials of the Ministry of External Affairs and Commerce Ministry gave this information to the Parliamentary Standing Committee on Foreign Affairs headed by Congress leader Shashi Tharoor. Tharoor described the meeting as very effective, which lasted for more than three hours and was attended by 28 out of 30 members.
Meeting focused on India-US trade agreement
Speaking to the media after the meeting, Shashi Tharoor said, “The officials answered every question with great detail and confidence. This was an excellent example of the functioning of the committee. Foreign Secretary Vikram Misri was also among those who presented their views before the MPs on behalf of the government. Tharoor said that most of the meeting was focused on the India-US trade agreement and the India-EU Free Trade Agreement (FTA). All topics including Russian oil and agricultural products were discussed. Officials told the committee that India is working on finalizing an interim agreement with the US.
Officials gave detailed clarification on key aspects of trade agreements
India and America had recently announced a trade agreement. In the fact sheet released by the White House regarding the main terms of this agreement, it has been said that India has committed to stop purchasing crude oil from Russia. On this commitment of India, US President Donald Trump had announced the removal of additional tariff of 25 percent imposed on India. On the 18 percent retaliatory tariff imposed by the US, Tharoor said that trade is being weaponized in international commerce. Aam Aadmi Party MP Raghav Chadha also described the presentation as very useful and said that the officials have given detailed explanations on key aspects of the trade agreements.
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