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New Delhi/Washington January 14, 2026: India’s External Affairs Minister S. Jaishankar and United States Secretary of State Marco Rubio held a phone conversation focusing on trade, defence and strategic cooperation at a time when bilateral economic ties are facing renewed pressure due to tariff-related developments.
The discussion took place a day after the newly appointed US ambassador to India, Sergio Gor, indicated that New Delhi and Washington would soon engage on trade-related issues. Jaishankar described the exchange as a productive and constructive conversation, with both sides agreeing to remain in close contact on a wide range of matters.
According to Jaishankar, the talks covered trade, critical minerals, nuclear cooperation, defence and energy, reflecting the broadening scope of India–US engagement beyond traditional diplomatic and security domains. An official American readout said the two leaders discussed ongoing negotiations on a bilateral trade agreement and shared a common interest in strengthening economic cooperation.
The US side also noted that perspectives were exchanged on regional and global developments, with both countries reaffirming their commitment to a free and open Indo-Pacific. Rubio, the US State Department said, congratulated India on the enactment of legislation aimed at promoting the sustainable development and expansion of nuclear energy, and expressed interest in building on this momentum to deepen civil nuclear cooperation and create new opportunities for companies from both countries.
The conversation came against the backdrop of recent tariff announcements by former US president Donald Trump, including a proposed 25 percent levy on countries conducting business with Iran. Indian government sources have sought to downplay the potential impact of these measures, noting that India’s trade with Iran is relatively limited.
Officials said the volume of trade between India and Iran is currently less than two billion dollars and that Iran does not figure among India’s top 50 global trading partners. In the last financial year, India’s trade with Iran stood at around 1.6 billion dollars, accounting for a very small fraction of India’s overall trade.
Despite the immediate tariff-related uncertainties, both New Delhi and Washington signalled an intent to keep channels open and push ahead with dialogue on trade and strategic cooperation, underscoring the importance both sides attach to the long-term India–US partnership.
