India-US Trade Deal Nears Finalisation: Marco Rubio
India and the United States are close to finalising a bilateral trade agreement, US Secretary of State Marco Rubio said on Monday, October 19, 2026. His remarks come ahead of high-level diplomatic engagements in Mumbai, with both countries seeking to resolve outstanding trade issues while addressing differences over India’s purchases of Russian energy.
Marco Rubio Signals Progress on India-US Trade Deal
Speaking to reporters in Samarkand, Uzbekistan, Rubio confirmed that Washington was working towards completing the agreement with New Delhi.
He indicated that negotiations had reached an advanced stage, although neither government has announced a formal signing date.
Commerce and Industry Minister Piyush Goyal recently stated that the first tranche of the proposed bilateral trade agreement had been finalised and was undergoing legal drafting.
The agreement is expected to improve market access and strengthen commercial cooperation between the two economies.
US Considers India’s Energy Needs in Russia Sanctions
Rubio defended Washington’s decision to grant waivers on sanctions targeting Russian oil and gas, citing concerns about international energy supplies and prices.
He acknowledged that countries face different geographical and economic constraints when securing alternative energy sources.
Rubio also confirmed that ongoing trade negotiations with India were among the considerations influencing American decisions on national security waivers.
New Delhi has consistently maintained that its energy procurement policies prioritise national interests, affordability and reliable supplies.
Rubio’s India Visit to Strengthen Bilateral Relations
Rubio’s visit to India includes diplomatic engagements with External Affairs Minister S. Jaishankar and discussions concerning bilateral cooperation.
Trade, investment, energy security and strategic relations are expected to feature prominently in the discussions.
The US Secretary of State also called for diversification of global supply chains, warning against excessive dependence on individual countries for critical products.
The latest developments indicate progress towards an India-US trade agreement, although its final terms remain subject to official confirmation.
