New Delhi, Feb. 3 -- US President Donald Trump on Tuesday ended months of speculation by announcing a US-India trade deal, under which he pledged to cut reciprocal tariffs on Indian goods to 18% from 25, offering relief to Indian exporters.

While the finer details of the agreement remain unclear, Trump claimed that New Delhi had agreed to a series of measures, including halting purchases of Russian oil, reducing tariff and non-tariff barriers to "zero", and committing to buy more than $500 billion worth of American goods. These would include energy, technology, agricultural products and coal.

The claims, however, have not been officially confirmed by the Indian government. Prime Minister Narendra Modi did acknowledge the development, ca...