India, Feb. 7 -- Less than a week after the announcement of a trade deal in principle, India and the US have issued a joint statement that gives more details about what exactly has been agreed upon. Some details will require more clarification, and some items have been left for future negotiations. But here are the key takeaways from Saturday's announcements.

What has India given for the deal to happen?

Russian oil purchases are still a big no: 25% of the existing 50% US tariffs on India were on account of the latter's Russian oil purchase. It was both unfair and inconsistent. The former because the Joe Biden administration that preceded the current Donald Trump administration in the US was fine with India buying Russian crude to preven...