- External Affairs Minister Jaishankar met US officials after a new India-US trade deal was agreed.
- The deal cuts tariffs from 50% to about 18% on many Indian exports, aiding labour-intensive sectors.
- Jaishankar and Rubio discussed cooperation on critical minerals, energy, defence, and technology.
External Affairs Minister S Jaishankar met US Secretary of State Marco Rubio and Treasury Secretary Scott Bessent in Washington on Wednesday after the two countries agreed to a trade deal that cuts tariffs and allows broad market access.
Jaishankar and Rubio discussed formalising bilateral cooperation on critical minerals exploration, mining, and processing, the State Department said. "Secretary Rubio and Minister Jaishankar welcomed the trade deal reached between President Trump and Prime Minister Modi. The two leaders emphasized the importance of our democracies working together to unlock new economic opportunities and advance our shared energy security goals," the statement said.
Expanding bilateral and multilateral cooperation through the Quad was also discussed. Notably, India was due to hold a Quad leaders' summit last year which did not happen due to frictions in India-US ties. Modi has met Trump as well as his Australian and Japanese counterparts on separate occasions.
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In a post on X, Jaishankar said he and Rubio had a wide ranging conversation on bilateral cooperation, regional and global issues, trade, energy, nuclear, defence, critical minerals and technology. The two top diplomats "agreed on the early meetings of various mechanisms to advance our shared interests".
Scott Bessent said he and Jaishankar addressed the importance of securing supply chains, as well as other national and economic security issues of mutual interest.
India and the US announced the landmark trade deal on Monday night, under which tariffs on a wide range of Indian exports are expected to be reduced from 50% to about 18%, providing relief to several labour-intensive and export-oriented sectors. The two sides have been locked in negotiations since early 2025.
Speaking during a press briefing at New Delhi, Commerce and Industry Minister Piyush Goyal said labour-intensive sectors were particularly upbeat about the agreement. He noted that fishermen and seafood exporters are among those expected to benefit and that the deal would open up multiple new opportunities for Indian businesses.
The stock market joined the euphoria around better trade flows between the two large economies. Rupee appreciated against the dollar on Tuesday.
White House Press Secretary Karoline Leavitt told reporters during a briefing that India committed to not only stop purchasing Russian oil, but buy energy from the US and Venezuela. "PM Modi committed to an investment of $500 billion into the United States, including energy, transportation and agricultural products," she said.
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