Energy security of 1.4 billion ‘supreme priority’, no $500-billion pledge: MEA, Goyal counter Trump claims

New Delhi on Thursday reiterated that safeguarding energy security remains a top priority for the government, responding to claims by US President Donald Trump that India has agreed to halt purchases of Russian oil. The central government underlined that all decisions related to energy sourcing are guided by national interest and prevailing market conditions.

The Ministry of External Affairs (MEA) said India’s approach to energy procurement is shaped by the needs of its population and the changing global landscape, even as geopolitical developments continue to put pressure on international supply chains.

Energy security remains core priority

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Addressing a press conference in the national capital, MEA spokesperson Randhir Jaiswal made it clear that ensuring uninterrupted and affordable energy access for India’s 1.4 billion people is central to government policy. "In so far as India's energy security or sourcing is confirmed, the government has publicly on several occasions, including me here, stated that ensuring the energy security of 1.4 billion is the supreme priority of the government," Jaiswal said.

He said India’s strategy is not driven by political statements but by practical considerations tied to global markets.

"Diversifying our energy sourcing in keeping with objective market conditions and evolving international dynamics is at the core of our strategy to ensure this. All of India's decisions are taken and will be taken with this in mind."

Also Read: India-US Trade Deal: Rahul Gandhi attempting to mislead country, says Piyush Goyal

India agreed to halt Russian oil imports: Trump

Trump’s remarks came as he announced an ‘India-US trade deal’, asserting that New Delhi had agreed to stop buying Russian oil and instead increase purchases from the US and Venezuela. “We spoke about many things, including trade, and ending the war with Russia and Ukraine, agreed to stop buying Russian oil, and to buy much more from the United States and, potentially, Venezuela. This will help THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!” Trump wrote on his Truth Social post earlier this week.

While Prime Minister Narendra Modi later confirmed the trade deal, no official statement was made by India regarding halting Russian oil imports.

India open to sourcing oil based on commercial viability

Responding to questions on Venezuela, the MEA said India remains open to sourcing oil from any country as long as it makes commercial sense. "India's stand is clear. We have long-standing partnership with Venezuela. And we remain open to buying oil from Venezuela or other places depending on its commercial viability," Jaiswal said.

Russia sees no shift in India’s stance

Russia also weighed in on the developments, dismissing suggestions that India may reconsider its energy ties with Moscow. Russian Foreign Ministry Spokesperson Maria Vladimirovna Zakharova said there was no indication of any change in New Delhi’s approach.

"No reason to believe India has reconsidered its approach to energy cooperation with Russia," Zakharova said, adding, "The trade in resources is beneficial for both sides and contributes to maintaining stability in the international energy market."

Kremlin Spokesman Dmitry Peskov said India has always diversified its oil imports. "We, along with all other international energy experts, are well aware that Russia is not the only supplier of oil and petroleum products to India. India has always purchased these products from other countries. Therefore, we see nothing new here."

Also Read: Energy security, export competitiveness at core of India-US trade deal: Piyush Goyal

US imports could touch $500 billion over next five years: Piyush Goyal

Meanwhile, Commerce and Industry Minister Piyush Goyal said India has made no investment commitment to the United States, pushing back against recent claims from Washington. However, he noted that as India advances towards its Viksit Bharat 2047 vision, it is natural that the country’s imports from the US could rise in the coming years.

Speaking to reporters in the national capital, Goyal said India’s rapid economic expansion will require significant volumes of energy, industrial inputs and technology. "The fast paced growth at which India is going ahead in our journey in the Amritkal to Viksit Bharat 2047, we will need large volumes of energy, we will need large number of data centre equipments, ICT products, our steel capacity is going to double from today's 140 million tons to about 300 million tons in the next few years," Piyush Goyal stated.

Based on these requirements, Goyal said India’s imports from the US could touch $500 billion over the next five years. " We can clearly see before our eyes the potential that we can procure from the United States of America over the next five years," he stated.

Aircraft, energy and data centres drive imports

Highlighting aviation as a key area, Goyal said India’s aircraft purchases from the US both existing and planned are estimated at $70–80 billion. Including engines and spare parts, he said the total cost could rise to nearly $100 billion. He also pointed to policy support for the data centre sector, including tax incentives announced in the Budget. "Imagine, if we get $100-150 billion of investments in data centres, we will obviously need equipment for those data centres," Goyal said.

The Bilateral Trade Agreement (BTA) between India and the United States, formally proposed in February 2025 following directions from the leadership of both countries, aims to more than double bilateral trade from the current $191 billion to $500 billion by 2030.