Rubio Summons EAM Jaishankar to Bombay Taj Hotel to Discuss Trade Deal as he Visits Ambani Set Up in Jamnagar, Deals to Sell Vegetable Oil, Fossil Oil and Gas to India in the Offering

[ABS News Service/21.10.2026]

· The United States is close to its long-awaited trade deal with India, US Secretary of State Marco Rubio told reporters in Mumbai on Tuesday ahead of talks with his counterpart Subrahmanyam Jaishankar, DPA news agency reported.

“I think there's a small number of items left to wrap up, so I think that will happen shortly,” Rubio said. He provided no details.

Commenting on India's massive imports of Russian oil, Rubio stressed that the United States was pleased that India, the world's most populous country, was showing “significant progress” in efforts to expand its oil sources. He said it was not easy to achieve that overnight.

India, which also maintains good relations with Russia, is a key strategic partner for the US.

Relations were severely strained, however, when US President Donald Trump imposed punitive tariffs on India. Trump withdrew the tariffs, worth billions, in February. They were intended to indirectly weaken Russia's oil trade.

Negotiations between Washington and New Delhi over a trade deal have been stalled for months. A framework for a provisional agreement, agreed by both sides, includes a reduction of additional US import duties on Indian goods.

In his meeting with Jaishankar in Mumbai, Rubio said he expected that increased energy trade with the US could “can play a transformative role in diversifying India's supply chains while meeting its sizable consumer demand.”