India to Diversify Energy Imports to Ensure Stable and Affordable Supply: Foreign Secretary

India has reaffirmed its commitment to diversifying energy import sources to ensure stability, affordability, and long-term security for consumers, amid renewed global scrutiny over its crude oil purchases. Addressing a media briefing in New Delhi, Foreign Secretary Vikram Misri stated that India’s energy strategy is firmly guided by national interest and market-driven considerations rather than dependence on any single supplier.

Misri emphasised that India’s priority is to provide “adequate energy at the right price through reliable and secure supplies,” underlining the government’s focus on consumer welfare. He made it clear that India neither relies on nor intends to rely on one source for crude oil, instead opting for a diversified mix of suppliers based on objective market conditions such as price competitiveness, availability, and logistical feasibility.

The statement comes in the backdrop of recent remarks by Donald Trump, who claimed last week that India had committed to stopping direct or indirect imports of Russian crude. Misri, however, clarified that India’s energy procurement decisions are sovereign choices driven by domestic priorities and global market realities. He reiterated that national interest remains the guiding principle for both the government and Indian energy companies.

India’s evolving energy posture has also been reflected in recent trade data. Imports of Russian oil reportedly declined in January, as Indian refiners explored alternative sources amid ongoing Western sanctions and shifting geopolitical dynamics. This trend was also noted in India’s Economic Survey, which supported claims made by Scott Bessent regarding a substantial reduction in Russian oil purchases by New Delhi.

Reacting to India’s stance, the Kremlin said it saw nothing new in the emphasis on diversification, observing that sourcing oil from multiple suppliers has long been a core element of India’s energy policy. Analysts note that diversification allows India to better manage price volatility and supply disruptions in an increasingly uncertain global energy landscape.

The energy discussion is unfolding alongside broader developments in India–US trade relations. Recently, Trump signed an executive order lifting a 25 per cent punitive tariff on Indian imports, which had been imposed earlier in connection with India’s continued purchases of Russian oil. The move has been seen as a step towards stabilising bilateral trade ties.

India and the US have also announced a framework for an interim trade agreement aimed at deepening economic cooperation. Under the proposed framework, India will reduce or eliminate tariffs on US industrial goods and a wide range of agricultural products, while maintaining protections for sensitive sectors.

Commerce Minister Piyush Goyal said the agreement fully safeguards sensitive agricultural and dairy sectors, ensuring protection for farmers and rural livelihoods. He added that duty-free access for key export sectors such as pharmaceuticals, gems, and diamonds would enhance India’s global competitiveness and support the Make in India initiative.

A joint India–US statement described the interim framework as a “historic milestone,” reaffirming both countries’ commitment to expanding trade negotiations. As global energy markets and trade dynamics continue to evolve, India’s emphasis on diversification reflects a calibrated approach aimed at balancing economic growth, energy security, and strategic autonomy.