India-US trade deal enters final stage as S. Jaishankar, Rubio hold crucial talks in Delhi

Rashmi Pandey — Sun, 24 May 2026 09:51:14 +0000

India and the United States have moved closer to finalising an interim bilateral trade agreement after External Affairs Minister S. Jaishankar held high-level talks with US Secretary of State Marco Rubio in New Delhi on Saturday.

Following delegation-level discussions, Jaishankar said negotiations on the proposed trade arrangement had entered the “final stage” and confirmed that an American delegation would soon visit India for the next round of talks aimed at finalising the text of the agreement.

Addressing the media after the meeting, Jaishankar said both countries had discussed concluding the interim agreement on reciprocal and mutually beneficial trade at the earliest possible date. He described the proposed pact as an important step towards a broader comprehensive bilateral trade agreement envisioned during Prime Minister Narendra Modi’s visit to Washington earlier in 2025.

The meeting also resulted in the renewal of the 10-year India-US Defence Partnership Framework Agreement, a key strategic arrangement governing military cooperation between the two countries. Jaishankar said both sides also signed a comprehensive underwater domain awareness roadmap and discussed expanding defence cooperation while aligning with India’s “Make in India” priorities.

Rubio, during the talks, described the India-US relationship as one of the most significant strategic partnerships globally and stressed the importance of strengthening cooperation in trade, defence, maritime security, energy and Indo-Pacific stability.

The discussions additionally covered energy security, regional tensions in West Asia, maritime trade through the Strait of Hormuz, visa policies and critical supply chains. Jaishankar reiterated India’s focus on ensuring affordable and accessible energy for its population while simultaneously accelerating economic engagement with Washington.

The trade negotiations come after months of discussions between the two governments over tariffs, market access and supply chain cooperation. Earlier this year, officials from both sides had indicated that the agreement was nearing completion, with the deal expected to reduce tariff barriers and expand trade opportunities across manufacturing, technology, energy and agriculture sectors.

The evolving agreement is also being viewed as part of broader efforts by New Delhi and Washington to deepen strategic ties amid shifting geopolitical dynamics in the Indo-Pacific region and ongoing global economic realignments.

interim trade pact | Business Upturn

India-US trade deal enters final stage as S. Jaishankar, Rubio hold crucial talks in Delhi