US Secretary of State Marco Rubio said during his India visit that only a small number of items remain unresolved in the India-US trade agreement talks, after meeting External Affairs Minister S Jaishankar in Mumbai on October 20.
The visit mixes diplomacy with energy. On October 21, Rubio went to Jamnagar to tour Reliance’s refinery, as Washington seeks greater energy trade with India and has raised concerns about Indian purchases of Russian oil.
Some differences are still open, including US tariffs, immigration restrictions and higher H-1B visa fees, according to Business Today, and no signing date has been given.
Indian markets opened higher on hopes of progress but gave up the gains by the close, showing that investors are waiting for the actual terms.
On Wednesday, October 21, Rubio left Mumbai for Jamnagar in Gujarat, the second leg of the visit, according to The Tribune and Business Today.
The Jamnagar stop includes a tour of Reliance Industries’ refinery and Vantara, according to Business Today.
The Tribune says talks on enhanced energy cooperation are on the agenda.
Latin Times reports that Rubio called India a refining superpower and that the United States wanted more Venezuelan crude to be processed at the Jamnagar refinery. This comes from a single report.
Washington has raised concerns about India’s purchases of Russian oil and is seeking greater energy trade with India, according to Business Today.
Reliance has United States energy interests, which have drawn attention in the talks, according to the same report.
India and the United States still have differences on several issues, according to Business Today, including United States tariffs, immigration restrictions and higher H-1B visa fees.
The reports mention punitive tariffs imposed last year as one of the sticking points.
This is Rubio’s second visit to India in five months, according to Business Today.
The Taj Mahal Palace Hotel, Mumbai (file image), Wikimedia Commons, CC BY 4.0