'Ensure trade is not weaponised': Piyush Goyal pushes US for equal footing in energy trade

Commerce Minister Piyush Goyal said India expects “a very high level of U.S. involvement” in its long-term energy security strategy, calling for deeper cooperation across oil, gas, coal, and nuclear power.

Speaking at the U.S.-India Strategic Partnership Forum in New York, Goyal laid out a clear roadmap: “We expect to increase our trade with the U.S. on energy products in the years to come.” He added that the partnership would “ensure price stability, diversified sources of energy for India and help us unlock limitless possibilities with the U.S. on various fronts, energy and beyond.”

India, one of the world’s largest energy importers, is pushing for a reset — not just in energy flows, but in how trade works. Goyal said the goal is to secure “resilient critical mineral supplies” and “ensure that trade is not weaponised,” a veiled reference to U.S. penalties tied to India’s Russian oil purchases.

Washington has slapped an additional 25% “secondary” tariff on Indian goods, on top of the existing 25% duties. 

India is also looking to lock in long-term advantages through a bilateral trade agreement. Talks are underway, led by Goyal and chief negotiator Rajesh Agrawal, with five rounds completed so far and a partial deal targeted for fall.

The energy push is getting support from Washington. “We love India,” said U.S. Energy Secretary Chris Wright. “We look forward to more energy trade, more interactions back and forth.” He praised India’s leadership in clean cooking fuels and called it an “awesome ally” with rising demand and global significance.

On nuclear, Goyal said progress is underway to align India’s policies with private sector participation. “We are working in India to support private efforts in nuclear power,” he noted.

He also took a direct swipe at the EU’s carbon tax framework, warning the CBAM could backfire. “This green protectionism is like a trap… Their products will lose market share. Inflation will rise. It’s not sustainable,” he said.