Rubio meets Modi during India visit with energy high on the agenda
US Secretary of State Marco Rubio met Indian Prime Minister Narendra Modi during his India visit. Talks emphasised US energy offers to India and Indo-Pacific security cooperation. The Quad foreign ministers' meeting is scheduled for 25 May.
Rubio met Modi for roughly 90 minutes at Hyderabad House. A joint readout said the United States had offered annual sales of 18 million tonnes of liquefied natural gas (LNG) and 350,000 barrels per day of crude oil. The Indian side outlined a 'diversification strategy' to reduce Gulf dependence amid Strait of Hormuz tension.
Rubio said at his press briefing that 'the US-India relationship is the defining partnership of the next decade'. Indian Foreign Minister S Jaishankar said India 'clearly expressed its concerns' regarding the ongoing US military assistance framework with Pakistan. Wilson Center analyst Tanvi Madan said the meeting 'visibly eased tensions of the past six months'.
The Indian rupee strengthened 0.4 percent against the dollar and Mumbai's Sensex index rose 1.1 percent. Reliance Industries and Indian Oil gained 2.8 percent and 2.3 percent respectively. Quad foreign ministers (US, India, Japan, Australia) will meet in New Delhi on 25 May. This article is informational and should not be construed as investment advice.
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