Jaishankar, Rubio discuss trade and energy as US says India deal ‘very close’

Trade and energy were high on the agenda as external affairs minister S. Jaishankar met US secretary of state Marco Rubio in Mumbai on Tuesday.

Two days ago, Rubio had said in Samarkand, Uzbekistan, that the two countries were "very close" to finalising a trade deal which was a consideration when President Donald Trump granted a 60-day waiver on the recently enacted Sanctioning Russia & Iran Act (SRIA).

Neither side disclosed much on what transpired at the Mumbai meeting, which took place soon after Rubio landed in the megapolis and ahead of his trilateral with Jaishankar and the foreign minister of the UAE, Sheikh Abdullah bin Zayed Al Nahyan.

Jaishankar said in a post on X on the meeting with his US counterpart: “Pleased to meet US @SecRubio in Mumbai today. We shared views on further advancement of our ties, focusing on trade, energy, technology, defence and people to people ties. Also exchanged views on regional developments.”

Rubio also posted a similarly worded account of his meeting with Jaishankar. “In Mumbai, Indian External Affairs Minister @DrSJaishankar and I discussed energy security and defence cooperation while reaffirming the importance of advancing the US-India strategic partnership.”

Ahead of his India visit, Rubio had said in Uzbekistan on Sunday that the US was trying to finalise the trade deal with New Delhi.

“We’re very close to doing that. So that’s one of the things we take into consideration when the President makes a decision about national security waivers and things of that nature,” Rubio had told reporters in the context of SRIA. When it was enacted, India had said it could impact the bilateral relationship and also the international energy market.

For the first time since the Trump administration assumed office in January 2025, the US has openly appeared to appreciate India’s concerns about energy security and the rationale for buying from Russia.

Without naming any country, Rubio said: “You also can’t unravel the economy of other countries because of one central issue. So that’s the complex part of having to balance all of this.”