Trump Claims $500bn India Investment Pledge in New US Trade Deal

India and the United States have finalized a trade agreement following months of negotiations, according to announcements made Monday by US President Donald Trump and Indian Prime Minister Narendra Modi on social media.

Trump revealed the deal on Truth Social, outlining several key provisions. Among them, he claimed India had agreed to stop purchasing Russian oil and instead increase energy imports from the United States and potentially Venezuela. India’s continued buying of Russian crude since the start of the Ukraine war has been a longstanding source of tension with Washington, prompting Trump to impose an additional 25% tariff on Indian goods.

Under pressure from the White House, New Delhi had already begun scaling back Russian oil imports. Trump’s push for increased purchases from Venezuela appears tied both to his interest in accessing the country’s oil reserves—following his order to detain Venezuelan leader Nicolás Maduro—and to his broader aim of keeping global oil prices in check.

Trump also said Modi committed to “BUY AMERICAN,” pledging more than $500 billion in investments across US agriculture, technology, and energy sectors, though no timeline has been disclosed. In exchange, Indian exports to the US would reportedly face a reduced tariff of 18%.

However, uncertainty remains around Trump’s assertion that India would move toward eliminating all tariffs and non-tariff barriers on US goods. India has historically resisted lowering protections in sensitive areas such as agriculture, making the scope and feasibility of such commitments unclear.