India, Feb. 4 -- United States President Donald Trump on Monday announced that India and US had reached a trade agreement. In a post on Truth Social, the US President said that American tariffs would be lowered, and went on to claim that India would stop the purchase of Russian oil.

Prime Minister Narendra Modi too welcomed the announcement, thanking Trump for lowering duties on Made in India products.

However, months ahead of the trade deal, National Security Advisor Ajit Doval visited Washington, wherein he told US Secretary of State Marco Rubio that he wanted to put the acrimony between the two nations behind it and get back to negotiating a trade deal, Bloomberg reported.

According to the report, Doval also told Rubio that India wo...