US, India Near Final Agreement on Trade Deal, Rubio Says

Mumbai — U.S. Secretary of State Marco Rubio said Tuesday that the United States and India are nearing completion of a trade agreement, with only a few outstanding issues remaining before a formal announcement.

“We’re very, very close. I would say we’re about as close as you can be without having executed the agreement,” Rubio told reporters in Mumbai.

“I think there’s a small number of items left to wrap up, so I think that will happen shortly,” he added.

Rubio expressed optimism that the two countries would soon announce the agreement and proceed with its formal signing.

Although the State Department does not directly negotiate trade agreements, Rubio said he and other senior U.S. officials remain closely involved in the discussions.

“My counterpart, the National Security Advisor, and I care a lot about it,” he said.

The remarks come as India and the United States continue negotiations aimed at expanding bilateral trade and resolving outstanding tariff issues.

Earlier this month, Indian Commerce Minister Piyush Goyal said New Delhi expected to finalize the first phase of the agreement soon. Commerce Secretary Rajesh Agrawal also said India was seeking preferential access to the U.S. market and greater tariff stability under the proposed deal.

Rubio’s comments followed talks with Indian External Affairs Minister S. Jaishankar in Mumbai, where the two officials discussed energy security, defense cooperation and the broader strategic partnership between their countries.

“In Mumbai, Indian External Affairs Minister Dr S Jaishankar and I discussed energy security and defence cooperation while reaffirming the importance of advancing the US-India strategic partnership,” Rubio wrote on X.

U.S. Ambassador to India Sergio Gor also highlighted the discussions, describing them as an opportunity to strengthen cooperation across several sectors.

“Productive discussions between Secretary Rubio and External Affairs Minister Dr S Jaishankar on deepening US-India cooperation across defence, energy, emerging technologies, and trade, as we continue to build the unrivalled momentum in our bilateral partnership,” Gor wrote on X.

Rubio arrived in Mumbai on Tuesday for his second visit to India this year.

Before meeting Jaishankar at the Taj Mahal Palace Hotel, he laid a wreath at the hotel’s memorial honoring victims of the November 26, 2008, Mumbai terrorist attacks.

The visit comes as both governments work to advance their economic and strategic relationship, with the proposed trade agreement emerging as a key priority in bilateral discussions. (Source: IANS)