US President Donald Trump’s decision to waive sanctions, restrictions and tariffs under the Sanctioning Russia and Iran Act has brought relief for Indian exporters and energy users, with industry experts saying continued access to competitively priced Russian crude could help contain input costs and inflation.
New Delhi, October 18 — US President Donald Trump’s waiver of sanctions, restrictions and tariffs under the Sanctioning Russia and Iran Act (SRIA) has been welcomed by Indian industry groups, which said the move could support India’s energy security and reduce risks for exporters.
Industry representatives said continued access to competitively priced Russian crude could help moderate input costs, ease inflationary pressure and support economic growth.
FICCI Secretary General Anant Swarup described the waiver as a welcome development for India’s energy security. However, he cautioned that a waiver which can be modified or withdrawn at short notice does not provide the long-term certainty businesses need for planning.
FICCI said it hoped India and the US would ensure that such measures do not complicate ongoing trade negotiations and that bilateral economic ties remain based on stability, transparency and mutual benefit.
International trade expert and Hi-Tech Gears Chairman Deep Kapuria said the decision could help resolve some of the remaining differences in the proposed India-US Bilateral Trade Agreement.
He called the waiver a positive development for Indian industry and said it could help strengthen bilateral trade relations.
The Federation of Indian Export Organisations (FIEO) also welcomed the decision.
FIEO Director General Ajay Sahai said the waiver removes a major risk to Indian exports and could improve buyer confidence and order flows, especially in employment-intensive sectors such as textiles, leather, gems and jewellery, and engineering goods.
He also said the move could create a more positive environment for India-US trade discussions.
However, Sahai cautioned that the waiver remains reviewable, leaving some uncertainty for future contracts and investments.
He said exporters, particularly MSMEs, need greater long-term tariff predictability and expressed hope that the temporary relief would eventually lead to a more durable trade understanding.
Trump issued the waiver on October 16, citing US national interest.
Under the law, the US President had the authority to impose duties of up to 100% on countries purchasing Russian crude and gas, including major buyers such as India and China.
For India, the waiver reduces the immediate risk of additional trade penalties while preserving access to discounted Russian energy supplies.
