Marco Rubio says ‘we’re about as close as you can be’ to an India trade deal after talks in Mumbai

U.S. Secretary of State Marco Rubio discussed the possibility of a finalized trade deal with India's foreign minister in Mumbai on Tuesday. The two countries aim to strengthen energy cooperation and overcome the stalled trade negotiations, which were impacted by American tariffs and concerns over India's Russian oil purchases. Rubio stated that they are "about as close as you can be without having executed the agreement," indicating that only a few items remain to be finalized.

Indian Foreign Minister Subrahmanyam Jaishankar and Rubio also held a trilateral meeting with UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan to discuss regional energy security and shared economic priorities. The United States imposed tariffs of up to 50% on Indian goods in August 2025 after the trade talks broke down, but the tariff rate was later reduced to 18%.

India plans to diversify its energy imports, including from the U.S., while maintaining market stability and affordable prices. Despite occasional tensions, both nations continue to enhance defense and technology ties, viewing each other as key allies in the Indo-Pacific. Rubio's visit followed a trip to Uzbekistan, where he promoted trade and ties with Central Asia.