India, Feb. 2 -- US President Donald Trump on Monday announced a trade deal between India and the United States. Under the agreement, the US will lower tariffs on India from 25 per cent to 18 per cent.

In return, India has agreed to stop buying Russian oil, and will purchase $500 billion worth of US energy and tech, Trump said.

New Delhi has not yet made any remarks on the trade deal agreement and PM Modi's phone call with the US President.

In a post on Truth Social, Trump said that India had "agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela", and would also move to reduce tariffs and non tariff barriers against the US to zero. Trump said that this would "help end the war in Ukr...