MUST READ | India-US trade deal close to being final; complex set of factors involved: Marco Rubio
“We're trying to finalise the trade deal with India right now. We're very close to doing that,” Rubio said.
India and the US have been negotiating the proposed pact since early 2025 to address tariff disputes, eliminate non-tariff barriers and improve market access. India is seeking more favourable tariffs for its exports than those offered to competing countries.
The meeting is also expected to cover energy cooperation, defence, critical and emerging technologies and other areas of bilateral interest. The two sides are likely to exchange views on the West Asia crisis, which has disrupted oil supplies from the Middle East and increased India’s reliance on Russian crude.
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Rubio acknowledged the challenges countries face in shifting energy sources, saying foreign policy decisions must account for geography, energy availability and bilateral relationships.
“You also can't unravel the economy of other countries because of one central issue,” he said, referring to the complexities of balancing US policy on the Russia-Ukraine war with other considerations.
Jaishankar is understood to have explained that Indian refineries are largely configured to process medium-sour crude supplied by Middle Eastern countries and Russia. Venezuela produces heavier-grade crude, while US supplies are largely light-grade, requiring blending before use in Indian refineries.
The visit is Rubio’s second to India this year. He is expected to arrive at Mumbai’s Chhatrapati Shivaji Maharaj International Airport at 2:15 pm and will also lay a wreath at the Taj memorial honouring victims of the 26/11 terror attacks, including six US nationals. He will attend a reception marking the 250th anniversary of US independence before travelling to Jamnagar on Wednesday.
The visit comes after bilateral relations came under strain over US punitive tariffs, Washington’s claims about its role in de-escalating India-Pakistan military clashes in May 2025, higher H-1B visa fees and restrictions affecting green-card processing for major Indian IT companies.