MUMBAI, India (Diya TV) — U.S. Secretary of State Marco Rubio and External Affairs Minister S. Jaishankar discussed trade, energy, technology and defense in Mumbai on Tuesday as both governments seek to complete a trade agreement and manage strains over tariffs and India’s Russian oil purchases.
Rubio called India’s effort to diversify its energy sources “a smart thing to do” and said the United States could help meet its energy needs. India still buys substantial volumes of Russian crude, and Rubio acknowledged that shifting suppliers takes time.
Rubio told reporters the trade agreement was “very, very close,” with a small number of issues left to resolve. He said the two sides hoped to announce progress soon, but gave no date for a deal. India’s Finance Minister Nirmala Sitharaman said this month that talks had plateaued, while Commerce Minister Piyush Goyal said last week that the first part of an agreement was in its final stages.
The negotiations have followed a sharp tariff dispute. Washington imposed tariffs of up to 50% on most Indian goods in August 2025. A framework announced in February reduced the rate to 18%, but the broader talks stalled. India has said its tariff terms should remain competitive with those offered to manufacturing rivals such as Vietnam.
Russian oil remains another point of friction. India increased purchases of discounted Russian crude after Russia’s 2022 invasion of Ukraine. Last week, President Donald Trump waived potential additional tariffs on countries that buy Russian oil, including India. The waiver removed one possible obstacle to a trade agreement, but did not end U.S. concerns over the energy trade.
Rubio also outlined a possible energy partnership involving Venezuela. He said he would discuss with Reliance Industries Chairman Mukesh Ambani the prospect of Reliance refining more Venezuelan crude at its Jamnagar complex and possibly producing oil in Venezuela. Reliance already imports Venezuelan crude but does not operate there. Rubio is scheduled to visit the Jamnagar refinery during his trip.
Jaishankar said the talks covered regional developments as well as economic and security cooperation. Rubio and Jaishankar also met with United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan to discuss regional energy security and shared economic priorities.
Rubio arrived in India for a visit scheduled from Oct. 20 to 22, his second trip to the country in less than five months. He also laid a wreath at the Taj Mahal Palace Hotel memorial for the victims of the 2008 Mumbai attacks, which killed 166 people, including six Americans.
