NEW DELHI: India and the United States are close to finalising a bilateral trade agreement, with US Secretary of State Marco Rubio saying that nearly all the work has been completed, according to a report published on Thursday.
Rubio said the two sides were “incredibly close” to reaching a deal, indicating that only a small number of issues remained to be resolved. US President Donald Trump also suggested that the agreement could take a different form from what had previously been expected.
The negotiations have faced challenges over US tariffs and India’s purchases of Russian oil. Both countries are seeking to strengthen economic ties while addressing differences over trade and market access.
Rubio discussed the proposed agreement during his visit to Mumbai, where he met External Affairs Minister S. Jaishankar. Their discussions covered trade, energy, defence, technology and wider regional developments.
The United States is also seeking to expand energy exports and sales of technology and defence equipment to India. Closer cooperation in these areas could have implications for investment, supply chains and economic relations between the two countries.
However, the agreement has not yet been signed. The final terms, including any tariff changes and their impact on businesses, will become clearer only when an official deal is announced.
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