Rubio Holds Talks in India to Push for USD500B Energy Deal
The meeting, part of Rubio's four-day visit to India, covered what the secretary of state described as "the situation in the Middle East and US-India partnership in energy, securing critical supply chains, and collaboration on emerging technologies."
Modi characterized the discussions as centered on "sustained progress" in the bilateral strategic partnership and broader regional security. "India and the United States will continue to work closely for the global good," he wrote on X following the talks.
The urgency behind the energy dialogue is clear: India, the world's third-largest crude importer, depends on foreign suppliers for more than 80% of its energy needs. The country has been significantly exposed to the ongoing crisis, despite Tehran permitting Indian vessels to transit the Strait of Hormuz — a passage it has closed to nations it deems "hostile."
Rubio was unequivocal in framing Washington's position on the waterway, asserting the US "will not let Iran hold the global energy market hostage," while making the case that "US energy products have the potential to diversify India's energy supply."
Ahead of the visit, Rubio had signaled the US wanted to become "a bigger part" of India's import portfolio and "sell them as much energy as they'll buy," also flagging "opportunities with Venezuelan oil." He disclosed that interim Venezuelan President Delcy Rodriguez — who assumed power following a US military raid on the country in January — would travel to India next week to negotiate oil sales being conducted under Washington's direct oversight.
Shortly after concluding the Modi meeting, Rubio claimed India had committed to purchasing $500 billion worth of American goods over the next five years, spanning energy, technology, and agriculture. New Delhi, however, has yet to issue any official confirmation of new commitments.
The talks unfold against a backdrop of mounting friction between the two nations. A trade deficit of $58.2 billion last year and India's persistent purchases of Russian oil — its single largest energy source since 2022 — have strained the relationship considerably. New Delhi has consistently refused to curtail Russian imports, citing the need to protect its economy through diversified sourcing. The Trump administration responded earlier this year with punitive tariffs on Indian goods tied to Russia trade, though those measures were subsequently eased under a preliminary agreement with Modi.
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