# US and India Trade Deal Nearly Finalized

> US and India close to trade deal with few items left.
- Title: US and India Trade Deal Nearly Finalized · mint | Shortify
- Summary: US and India close to trade deal with few items left. US Secretary of State Marco Rubio says US and India are very close to a trade agreement with only a few…
- Keywords: india, trade deal, marco rubio, quad, energy cooperation, refining capabilities, venezuelan crude, news, Trade, Deal, Nearly, Finalized
- Source: mint — https://livemint.com/news/us-india-trade-deal-energy-ril-rubio-11792513086422.html
- Author: Harsh Kumar
- Published: 2026-10-20T17:10:45+00:00
- Read time: 1 min
- Topics: us, india, trade deal, marco rubio, quad, energy cooperation, refining capabilities, venezuelan crude, news
## US and India Trade Deal Status
US secretary of state Marco Rubio says US and India are very close to a trade agreement with only a few issues remaining.

> we’re very, very close. i would say we’re about as close as you can be without having executed the agreement
## Rubio's Optimism on Trade
Rubio expressed confidence that the trade agreement will be finalized shortly, noting a small number of items to wrap up.

> i think there’s a small number of items to wrap up so i think that will happen shortly, we’re hoping; it should
## US-India Strategic Partnership
Rubio highlighted India’s strategic partnership with the US, including defense cooperation and Quad membership.

> they’re a key member of the quad they’re a strong strategic partner
## Trade Data for FY26
India's exports to the US grew to $87.31 billion from $86.51 billion, while imports surged 17.2% to $53.45 billion in FY26.

> in fy26 india's exports to the us grew marginally to $87.31 billion from $86.51 billion a year ago while imports surged by 17.2% to $53.45 billion from $45.62 billion in fy25
## Energy Cooperation Focus
Rubio discussed India’s refining capabilities and potential use of Venezuelan crude oil for energy security.

> they have the capability to refine heavy crude they’ve done so in the past and i think as more and more venezuelan oil comes online it’s something they can do
## Venezuelan Oil and Energy
Rubio noted Venezuela could provide relief from energy shortages due to disruptions in the ongoing West Asia war.

> i’m not claiming to you that venezuela alone can fill the hole that could be caused by some of the things that are happening around the world but i think over time it most certainly can
## Next Steps for Trade
Rubio will discuss energy cooperation with Reliance Industries in Jamnagar, India, on Wednesday.

> they have the capability to refine heavy crude they’ve done so in the past and i think as more and more venezuelan oil comes online it’s something they can do
## Key takeaway

US Secretary of State Marco Rubio says US and India are very close to a trade agreement with only a few issues remaining.