US Secretary of State Marco Rubio said in Mumbai that the trade deal with India is “very, very close” to being executed and that a small number of items remain to wrap up, he told reporters on Tuesday.

Rubio held talks with Indian Foreign Minister Subrahmanyam Jaishankar in the city to deepen energy cooperation and move closer to finalizing the agreement. Washington imposed tariffs of up to 50% on most Indian goods in August 2025 and, under a framework agreed in February 2026, the rate was reduced to 18%, but negotiations have stalled since. Rubio said the US will discuss refining Venezuelan crude with Reliance and that India made “substantial progress” in diversifying its energy supplies, according to The Hindu.