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India-US Trade Deal Expected Soon As Marco Rubio Highlights Progress
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CNBC Awaaz•20-10-2026, 23:09
India-US Trade Deal Expected Soon As Marco Rubio Highlights Progress
- •US Secretary of State Marco Rubio stated that India and the US are extremely close to finalizing a trade agreement.
- •Total bilateral trade between India and the US grew by 6.5 percent to 140.76 billion dollars in the 2025-26 fiscal year.
- •Rubio highlighted India's crucial role in the Quad and discussed potential energy cooperation during his visit.
Key Questions Answered
US Secretary of State Marco Rubio stated in Mumbai that India and the US are extremely close to finalizing a trade agreement, with consensus remaining to be reached on only a few issues.
In the 2025-26 fiscal year, total trade between India and the US grew by 6.5% to reach $140.76 billion, up from $132.2 billion in the previous fiscal year.
Marco Rubio is scheduled to visit Jamnagar to discuss energy cooperation with Reliance Industries, focusing on Indian refineries processing heavy crude oil and potential oil supplies from Venezuela.
