Nirmala Sitharaman Makes Key Announcement on India-US Trade Deal

Union Finance Minister Nirmala Sitharaman has said the Indian government is working to finalise a trade agreement with the United States at the earliest. Despite several rounds of negotiations, the deal is yet to be concluded. Speaking at the annual meetings of the International Monetary Fund (IMF) and the World Bank in Bangkok, Sitharaman said India was moving forward with the negotiations, keeping global trade conditions and the economic and commercial interests of both countries in mind. She indicated that discussions with the US had reached the final stage.

Sitharaman said Commerce Minister Piyush Goyal had recently informed her that the first phase of the India-US trade deal had been finalised and that the legal drafting process was currently underway. She added that the agreement could be signed soon. The Finance Minister also highlighted India's continued economic growth despite global uncertainties. She said the country's strong performance over the past four to five years following the COVID-19 pandemic was supported by inclusive growth policies, investments in skill development and fiscal discipline. She also emphasised the government's responsibility in managing public funds.