00:00U.S. Secretary of State Marco Rubio is arriving in Mumbai this evening.
00:04The visit is likely to put again on focus trade energy investment
00:08at the centre of the growing strategic partnership between New Delhi and Washington.
00:11In Mumbai, Rubio will be holding talks with External Affairs Minister Jai Shankar,
00:15engaging with business leaders, discussing ways to strengthen bilateral trade and investment ties.
00:21He will also pay homage to the martyrs of 2611 Mumbai terror attacks,
00:25also attend the Freedom at 250 years of event.
00:28The visit comes, but at a crucial moment.
00:31Remember, India-U.S. trade relationship has seen its share of ups and downs.
00:35Rubio is signalling that a trade deal between the two countries is very close.
00:39The Secretary of State saying that U.S. policy is not dictated solely by the Russia-Ukraine war,
00:44but foreign policy is ultimately a balancing act.
00:47But after Mumbai, the second leg of Rubio's visit is going to be, interestingly, Imjamnagar,
00:52where Reliance Industries operate the world's largest oil refinery complex.
00:57Reliance's investment in a new refinery in Texas adds another dimension to this energy partnership.
01:03The United States of America is looking to ease their fuel prices ahead of the mid-term elections.
01:08So this is a big news.
01:09At a time like this, remember that to visit Mumbai, then Jamnagar.
01:12Energy is the biggest concern right now, as much for America, and that is directly a part of either supporting
01:19the war between Russia and Ukraine
01:21or the West Asia conflict vis-a-vis Israel and Iran.
01:25And therefore, now that its own fuel prices are taking a hit ahead of mid-term elections,
01:29which can put Trump's future, political future, also in existential crisis,
01:34they are looking at even if required to buy fuel from Russia.
01:39The same reason they had decided to earlier put tariffs on India.
01:42And this is going to, of course, play out very interestingly of how America now says it is a balancing
01:48act.
01:49Remember, India had always maintained it is it wants the war to end in either country
01:54and will protect its own domestic interest first,
01:57especially because we have nothing to do with either of these conflicts and wars that are happening in West Asia
02:03and between Russia and Ukraine.
02:04But Rubio's visit could also push forward India-America relationship.
02:09There was a high that we had seen between the two countries,
02:12especially when Donald Trump had become the president again.
02:14But we had seen also how tariffs were imposed.
02:17Or during the conflict, the geopolitical tensions that erupted.
02:20So in just a short while, we'll have our colleague joining us, Pranay Upadhyay,
02:24our India Today global editor, is now with us.
02:26Pranay, this is going to be a very interesting visit by Marco Rubio.
02:29Tell us what is on agenda, how India wants to ensure that this will see a high of the relationship.
02:35Pooja in diplomacy, timing is very important.
02:38And, you know, as you can see that U.S. Secretary of State Marco Rubio is visiting India
02:44and especially these two cities, India's economic capital, Mumbai, and also Jamnagar,
02:48which is the place for world's largest oil refinery.
02:52And this visit is being seen as, you know, Secretary Marco Rubio's engagement with India,
02:57not only in terms of the trade and the policies of economic policies of the United States,
03:03but also U.S. engagement regarding the stabilization of oil prices,
03:08because the pressure is mounting in U.S. economy, gasoline prices have gone up,
03:12the popularity of President Donald Trump has gone down,
03:15and this is all happening at a time when the midterm elections are approaching.
03:19And, you know, Secretary Marco Rubio is also lead for President Donald Trump
03:24and his administration on Venezuela.
03:26And for the hard crude oil of Venezuela, the refining can only be done in a refinery
03:31like Jamnagar refinery, and I think that is the reason when Secretary Marco Rubio
03:36has decided to engage directly with the owners of the Jamnagar refinery
03:40and also with India to stabilize the oil prices,
03:44because we have seen that recently Trump's administration has decided to give waiver to India
03:49in Lindsay Graham Act.
03:51And in fact, President Donald Trump himself has said that he has given a certification of waiver to India,
03:57and he has, you know, sent that letter to the U.S. Congress
04:01that it is in the national interest of the United States to spare India,
04:05to give this, you know, exemption to India as far as the Russian oil purchase is concerned.
04:10And in fact, interestingly, recently President Donald Trump announced Pooja
04:14that he is going to buy a big volume of Russian diesel to stabilize prices in the U.S. economy.
04:20So for Trump and his administration, it's all about U.S. economy and America first.
04:25Pranay, stay with me on that, because that's clearly the big focus that Pranay is talking about.
04:29Eventually, it's about their own domestic interests also that are taking a hit now.
04:33What is it about the diesel issue now that is coming to the surface?
04:37Let me explain it to you.
04:38The United States of America is seeking new sources of refined fuel amid the global crisis.
04:44India is a major refining hub now, processing crude oil into diesel.
04:48Reliance Industries, for example, in Janmagar has the largest refinery of the world.
04:53And therefore, that's what Rubio is also set to visit now.
04:57America's diesel prices are surging to over $6 per gallon.
05:02Higher diesel will cost the pushing up of the food prices,
05:05of inflation in and across America.
05:08Price rise is then eventually going to pile pressure on the Trump government.
05:13And why timing is of essence here?
05:15November is mid-term elections.
05:17And Donald Trump, of course, wouldn't want a setback in that.
05:20Russian refineries have also been hit in the war.
05:24India, therefore, becomes a viable option.
05:26Reliance is backing the new refinery in Texas as well.
05:30So that is where the energy relationship comes in.
05:33Marco Rubio's visit can lead to talks on diesel supplies to America.
05:39And America, of course, is willing to explore this,
05:42even with the country they had decided to impose tariff on
05:46for buying oil from Russia a few years ago.
