States » WestPosted at: Oct 20 2026 5:05PM


India-US Trade Pact nears finalisation; announcement expected soon, says Rubio

Mumbai, Oct 20 (UNI) US Secretary of State Marco Rubio today expressed confidence that India and the United States were close to concluding their proposed trade agreement, saying negotiations had reached an advanced stage with only a limited number of issues remaining.
Speaking to reporters at the Taj Memorial in Mumbai, he indicated that the outstanding matters could be resolved shortly, raising hopes of an announcement on the long-pending agreement in the near future.
“We’re very, very close,” Rubio said, maintaining that the two sides were nearing the point of formalising the agreement.
He clarified that the US State Department was not directly responsible for negotiating trade pacts but remained closely involved in the process. He also underlined his personal interest in the negotiations, alongside his counterpart, India's National Security Adviser.
The proposed agreement has been under discussion amid differences between New Delhi and Washington over tariff arrangements, energy security and India's continued imports of Russian crude oil.
The US administration's recent decision to waive certain Russian-oil-related tariff measures affecting India has eased one potential point of contention, although the trade pact is yet to be formally signed.
Rubio's remarks come as both countries seek to strengthen economic ties and expand cooperation across key strategic sectors.
The US Secretary of State arrived in the financial capital of the country today on his second official visit to India this year, following his earlier trip in May. His current programme includes engagements in Mumbai and Jamnagar in Gujarat, with a focus on diplomatic outreach, business interactions and energy cooperation.
During his visit, Rubio is scheduled to hold bilateral talks with External Affairs Minister S Jaishankar to review the India-US Comprehensive Global Strategic Partnership.
The discussions are expected to cover trade and investment, energy cooperation, defence ties, critical and emerging technologies, and regional and international developments, including the situation in West Asia.
Earlier in the day, Rubio met Maharashtra Chief Minister Devendra Fadnavis in Mumbai.
He is also scheduled to attend the Freedom 250 Reception at the Jio World Convention Centre, organised to mark the 250th anniversary of American independence. Jaishankar will attend the event as the guest of honour.
The proposed trade agreement remains a key element of the broader India-US economic partnership, with both sides seeking to address outstanding differences and advance bilateral commercial engagement.
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