Rubio says the US and India are 'very, very close' to a trade deal. The Secretary visits Mumbai to discuss energy and security ties.

The United States and India are currently working to finalize a trade agreement, a process that has seen significant progress despite lingering challenges. The trade negotiations follow President Trump's October 16, 2026, decision to waive sanctions that would have imposed tariffs on Indian goods due to its Russian energy imports. Prior to Rubio's visit, Prime Minister Narendra Modi and President Trump discussed energy and trade, as India faced potential market disruptions from US sanctions legislation targeting major buyers of Russian oil.

The US and India coordinate on security and technology through the Quad, which also includes Japan and Australia. Trade friction and geopolitical disagreements complicate this partnership. Security cooperation remains a central focus for both nations. Secretary Rubio visited the Taj Mahal Palace Hotel on October 20, 2026, to honor victims of the 2008 Mumbai attacks. Security and economic negotiations now drive the bilateral relationship.

1. Bilateral trade reached $140.76 billion in fiscal year 2026, with India maintaining a $33.9 billion surplus. This trade volume supports current discussions regarding a formal trade agreement between the two nations.

2. The United States and India are expanding energy ties. Secretary Rubio visited Jamnagar to discuss collaboration. Reliance Industries operates a 1.4 million-barrel-per-day refinery in that city. The two nations are also partnering on a new refinery project in Texas.

3. Secretary Marco Rubio and External Affairs Minister S. Jaishankar discussed ways to advance the partnership between their nations.

1. Trade negotiations between the US and India have stalled. The US government cited India's ongoing purchases of Russian oil as the reason for the delay. This disagreement prevents the completion of a comprehensive trade agreement.

2. The Indian government continues to seek the extradition of Tahawwur Rana for his alleged role in the 2008 Mumbai attacks. The administration of President Donald Trump confirmed its commitment to this legal process. These efforts remain a central focus of bilateral discussions between the US and India.