New Delhi, Feb. 16 -- Commerce and Industry Minister Piyush Goyal on Saturday said the interim trade agreement framework finalised between India and the United States will factor in India's rising energy requirements and help secure crude oil at more competitive prices.

Both countries have agreed to work towards increasing bilateral trade to USD 500 billion annually by 2030, he said while speaking with reporters.

Goyal noted, "India is the fastest-growing large economy in the world, and its energy demand is rising by around 7 per cent annually. Increasing imports and having more suppliers would help India secure crude oil at more competitive prices," reported PTI.

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