India agreed to boost oil and gas imports from the U.S. in an effort to reduce the trade imbalance between the two countries and avoid retaliatory tariffs.

Indian oil companies are looking to buy U.S. liquefied natural gas (LNG), buoyed by the Trump administration's lifting of a ban on export permits for new projects, Oil Secretary Pankaj Jain said on Monday.

India is seeking to boost oil and gas imports from the US in an effort to reduce the trade imbalance between the two countries and avoid potential retaliatory tariffs.

India's top importers of liquefied natural gas are holding talks to buy more fuel from U.S. suppliers, ahead of Prime Minister Modi’s expected meeting with President Trump this week, Bloomberg reported Monday.

Indian Oil Corp is in talks with U.S. firm Cheniere Energy for a 15-year liquefied natural gas deal, with volumes between 1.5 million to 2 million metric tons per year, said a company source on Tuesday on the sidelines of the India Energy Week conference.