Indian economist and politician; Finance and Corporate Affairs Minister since 2019
Fairfax Financial has secured a 60.7% stake in IDBI Bank, valuing the lender at about 871 billion rupees. The sale marks the largest foreign direct investment in India’s financial sector as regulators review credentials.
Rubio’s India visit has focused on energy and trade, highlighting coordination on refining capacity and diversifying energy portfolios. He has met India’s foreign minister in Mumbai and will visit Jamnagar’s Reliance refinery as part of efforts to steady fuel markets ahead of US midterms.