India Keen To Diversify Crude Oil, Coking Coal Sources; Eyes High-Quality US Supplies: Goyal

India is actively seeking to diversify its sources of crude oil and coking coal, with a particular focus on securing high-quality supplies from the United States. Union Minister for Commerce and Industry, Piyush Goyal, emphasized the need for this diversification to enhance energy security and support the nation’s economic growth. Goyal noted that the U.S. is poised to meet a significant demand for aircraft, estimated at $100 billion over the next five years, indicating a robust trade relationship. The minister stressed that increasing local capacity and reducing airfares are essential for the aviation sector. This strategic move to tap into U.S. resources aligns with India's broader goal of reducing dependency on traditional suppliers and embracing more sustainable energy practices. The initiative not only aims to bolster India's energy independence but also to strengthen bilateral trade ties, ultimately benefiting multiple sectors within the economy.