‘India-US trade deal nears final stage’: Rubio says agreement could be signed soon
- In Reports
- 07:28 PM, Oct 20, 2026
- Myind Staff
US Secretary of State Marco Rubio arrived in India on Tuesday and expressed optimism about the India-US trade agreement, saying both sides were close to finalising it. Speaking to reporters in Mumbai, Rubio also discussed strategic ties, Russian oil purchases, the Ukraine war and arms control.
On the trade agreement, Rubio clarified that the US State Department does not negotiate trade deals but remains closely involved in the discussions.
"As far as the trade agreement is concerned, the State Department doesn't negotiate trade agreements, but we are very much involved in what's happening. My counterpart, the National Security Advisor, and I care a lot about it.
"We're very, very close. 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. We're hoping, which it should, and hopefully have some good news to announce soon and sign it thereafter. So, we're very optimistic that we will have something in place here very soon."
Rubio also said the US delegation would discuss oil production in Venezuela with Reliance. He noted that India had made "substantial progress" in diversifying its oil purchases, calling it a smart move.
Asked about India's role in meeting global energy demand, Rubio said, "India is a refining superpower. They have the capability to refine heavy crude. They've done so in the past, and I think as more and more Venezuelan oil comes online, it's something they can do. They also, by the way, have pre-existing oil concessions in Venezuela that can produce more themselves."
He added, "So, all these are positive things. I'm not claiming to you that Venezuela alone can fill the hole that could be caused by some of the things that are happening around the world, but I think over time, it most certainly can, and in the short term, it can certainly help.
"So, that's one of the things we'll talk about. With India, we've talked about it in the past, and they sound ready. They're willing to do it. There might be a few impediments that stand in the way in terms of sanctions and so forth that we'll have to work through," he added.
Highlighting bilateral ties, Rubio said External Affairs Minister S Jaishankar had visited the US four times this year. He described India as the world's most populous country, the largest democracy and an important commercial and defence partner. He also highlighted India's role in the Quad and called for more high-level visits.
On the Ukraine war, Rubio said "nothing being deliberately denied" to Ukraine amid reports that the Trump administration had not approved the transfer of US-made Patriot interceptor missiles from countries that had already acquired them. He added that Trump was "frustrated" by accusations that he was harming Ukraine.
Rubio also said arms control discussions involving China, Russia and the US would be positive for the world.

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