New Delhi Bureau
External Affairs Minister S. Jaishankar spoke candidly on the most sensitive issues in India-US relations at the NDTV World Summit 2026 in New Delhi. In a session at the summit, he said the India-US trade deal is in its final stages but cautioned, “It’s never done till it’s done.” He also commented on US President Donald Trump’s oil deal with Russia, saying the United States is “protecting its interest.”
Jaishankar on the Trade Deal: “In the Last Mile, but Not Done”
Asked about the trade deal with the United States, Jaishankar said steady progress is being made in that direction. He noted that US Secretary of State Marco Rubio and India’s Commerce Minister Piyush Goyal have both indicated that the pact has entered its concluding phases. But the External Affairs Minister struck a note of caution: “Often the last mile or the penultimate miles do pose their challenges. I think the teams are working through them now.”
When asked what those challenges actually are, Jaishankar declined to elaborate. “If you ask me what those challenges actually are, I am sorry, I cannot tell you about them. It is the job of the negotiators to resolve them,” he said.
US President Donald Trump has himself said that a “much different kind” of trade deal with India is “pretty close.” Jaishankar’s remarks signal that while both countries are near an agreement, several technical and policy issues still need to be settled before the final signature.
The Minister’s Argument on Trump’s Russia Oil Deal
On the question of Russian oil purchases, Jaishankar commented on the American position, saying the US is protecting its own interests — the Trump administration’s oil deal with Russia being a case in point. His argument: if the United States can turn to Russian supply in the interest of its own consumers, questioning India’s energy decisions is not justified.
India has long maintained that its energy purchases are driven by its national interests, and buying oil from Russia is part of that policy. Jaishankar’s remarks are being seen as a reaffirmation of that established position. He also said that in today’s turbulent world, no country can take stability in trade, energy and geopolitics for granted, and that governments and businesses must build resilient strategies around this volatility rather than depending excessively on a single source.
The Indira Gandhi Example in Reply to Rahul Gandhi’s ‘Mumbai’ Jibe
During the session, Jaishankar was also asked about Congress leader Rahul Gandhi’s objection to his meeting with US Secretary of State Marco Rubio in Mumbai. Gandhi had taken a jibe at the meeting.
Jaishankar hit back, saying, “I don’t understand what their problem is with Mumbai. I think it’s a wonderful city. It’s our economic capital, the hub of Bollywood. There’s so much here.”
He added, “I don’t know why they have such objections. If going out of Delhi to meet a foreign leader or counterpart is ‘being summoned,’ then I have many examples of that. I mean, Mrs. Gandhi went to Shimla to meet Bhutto, was that a summit? Salman Khurshid went to Jaipur to meet a Pakistani minister. So look, we’re all sensible people. Let’s talk sensibly and then leave. Okay?”
Notably, no further official reaction from the Congress has been reported beyond Rahul Gandhi’s objection. Jaishankar’s reply is being seen as the government’s final word on the controversy.
Backdrop: The Rubio Meeting in Mumbai
Earlier in the week, Jaishankar hosted US Secretary of State Marco Rubio in Mumbai — Rubio’s second visit to India in under five months. The meeting saw wide-ranging discussions on deepening cooperation across defence, energy, emerging technologies and trade.
Rubio described the discussions as “productive” and said the two countries continue to build the “unrivalled momentum” in their bilateral partnership. US Ambassador to India Sergio Gor was also present at the meeting.
From Tariffs to H-1B: The Strain Points
India-US ties have seen strain on several fronts in recent months. Washington imposed punitive tariffs on India last year. President Trump’s assertions regarding his role in de-escalating the India-Pakistan military clashes of May 2025 drew a sharp reaction from Indian officials.
America’s new immigration policy and its decision to increase the H-1B visa fee also contributed to the slide in ties. The US then decided to restrict a key Green Card processing programme for major global and Indian IT firms, including Tata Consultancy Services and Wipro, adding to the friction.
Against this backdrop, Rubio’s India visit and now Jaishankar’s remarks are being read as an attempt to get the relationship back on track.
What Rubio Said: India’s Diversification Push Is “Smart”
On the Russian oil question, Secretary Rubio struck a conciliatory note. He said India has repeatedly expressed its desire to diversify its energy portfolio, “which is a smart thing to do.” He added, “Obviously, it’s not easy to do that from one day to the next day. I think they’ve made substantial progress in that regard, and we’re happy to see that. But in the end, it’s not just about Russian oil; it’s about their desire to diversify, and obviously we think we can be a source of some of their energy inputs.”
Read together, Rubio’s remarks and Jaishankar’s argument suggest both countries are trying to understand each other’s position on the energy question.
What Next: The Road to the Trade Deal
Jaishankar’s statement makes it clear that the India-US trade deal is in its final stretch but not yet sealed. Negotiating teams on both sides are working through the remaining issues. The Foreign Minister also signalled that in this era of global volatility, India is giving top priority to diversification in its trade and energy policies.
More announcements on the deal could follow in the coming weeks. But in Jaishankar’s own words — “it’s never done till it’s done” — claiming any outcome before the final announcement would be premature.
