'We are very, very close': Rubio says India-US trade deal nearly done, leaders may sign soon

US Secretary of State Marco Rubio on Tuesday said India and the United States were very close to finalising a trade agreement, with only a small number of outstanding issues left to resolve.

Speaking in Mumbai during his two-day visit to India, Rubio expressed optimism that an announcement could come soon, followed by a possible signing of the agreement by the leaders of the two countries.

"We're very very close. I would say we're about as close as you can be without having an executed agreement," Rubio said when asked about the prospects of concluding the long-awaited trade negotiations. "I think there's a small number of items left to wrap up. So, I think that will happen shortly."

Rubio said Washington was hopeful of announcing progress in the near future and suggested that the agreement could subsequently be signed at the leadership level. "We're hoping, which it should, and hopefully have some good news to announce fairly soon, and perhaps the leaders can sign it thereafter," he said.

The US Secretary of State, however, did not specify which issues remained unresolved or provide a firm timeline for concluding the negotiations.

Rubio clarified that while the US State Department does not directly negotiate trade agreements, it remains closely involved in developments concerning the proposed pact. He said the agreement was an important priority for him and his counterpart, the US National Security Adviser.

"We feel very optimistic that we will have something in place here very soon," he said.

Asked about the purpose of his visit and the growing diplomatic engagement between the two countries, Rubio emphasised India's strategic and economic importance to the United States. He described India as the world's most populous country and largest democracy, as well as an important commercial and defence partner.

"It's an important commercial partner and business partner of the United States. We also do a lot of defense cooperation. They're a key member of the Quad. they're a strong strategic partner," Rubio said.

The Quad, comprising India, the United States, Japan and Australia, is a key platform for cooperation in the Indo-Pacific.

Rubio also suggested that the frequency of US visits to India should increase rather than decrease. "So, I don't think we've come enough and I think we need to have more," he said.

The Secretary of State pointed out that India's foreign minister had visited the United States four times this year, highlighting the depth of diplomatic engagement between the two countries. He also cited visits to India by several senior American officials, including the US Commerce Secretary, FBI Director, Vice President and Attorney General. "This is a very important partner for us," Rubio said.