US Secretary of State Marco Rubio on Tuesday said India and the United States were “very, very close” to finalising a trade agreement, expressing optimism that the deal would be concluded soon.
Speaking in Mumbai during his three-day visit to India, Rubio said only a few issues remained to be resolved before the agreement could be finalised.
“The State Department doesn't negotiate trade agreements, but we are very much involved in what's happening,” Rubio was quoted as saying by The Hindustan Times, adding that the two sides were close to completing the agreement.
“I would say we're about as close as you can be without having executed the agreement. I think there's a small number of items left to wrap up, so I think that will happen shortly,” he said.
Rubio added that he hoped there would be good news to announce soon and said Washington was optimistic about reaching an agreement.
The trade negotiations have faced challenges over US tariffs on Indian goods and India's continued purchases of Russian crude oil. Washington had imposed tariffs of up to 50% on most Indian goods in August 2025 after negotiations broke down. The rate was subsequently reduced to 18% under a framework agreed upon in February 2026.
India has been seeking tariff terms comparable to those offered to competing manufacturing economies such as Vietnam.
During his visit, Rubio also held talks with External Affairs Minister S Jaishankar in Mumbai, with discussions covering trade, energy, defence, technology and regional developments. The two leaders also met United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan to discuss regional energy security and shared economic priorities.
Rubio's visit comes as New Delhi and Washington seek to strengthen bilateral ties and advance trade negotiations amid differences over tariffs and energy imports.
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