The government has informed the Parliamentary Standing Committee on External Affairs that India will continue importing crude oil from countries offering competitive prices and reliable quality. Officials clarified that public sector oil companies will make procurement decisions based on prevailing geopolitical conditions and from sources that are not under international sanctions.

Senior representatives from the Ministries of External Affairs and Commerce briefed the committee during a meeting chaired by Congress leader Shashi Tharoor. Speaking to reporters after the meeting, Mr Tharoor said 28 out of 30 members were present and described the discussion as highly productive.

He noted that a significant portion of the meeting focused on the proposed Indo-US trade agreement and the India-EU Free Trade Agreement. Issues relating to Russian oil imports and agricultural trade were also taken up.

According to Mr Tharoor, officials addressed all queries in detail and expressed confidence in India’s approach. They informed the panel that efforts are underway to finalise an interim trade arrangement with the United States, though specific details will be shared at a later stage. He also remarked that India is among the countries facing the lowest tariff rates in the current trade framework.