Finance Minister Nirmala Sitharaman on Monday said negotiations between India and the United States on a bilateral trade agreement are continuing, but both sides appear to have reached a plateau where further concessions could be difficult.
Speaking at the Munich Leaders Meeting in New Delhi, Sitharaman described the agreement as having been hard and rigorously negotiated. She said there may still be scope for movement if both sides find room for further compromise.
Editorial Insight
Key Highlights
Important points readers should notice.
India-US trade negotiations are continuing.
Sitharaman said the talks have reached a plateau.
Further give-and-take could be difficult for both sides.
India's trade balance with the US currently favours India.
The US wants to reduce its trade deficit with India.
Sitharaman said the trade balance between India and the US is currently in India's favour. She noted that the US has a trade deficit with India and would want to reduce the imbalance.
The proposed trade agreement has not yet been finalised, and negotiations between the two countries remain ongoing.
Editorial Analysis
Why This Matters
The outcome of the India-US trade negotiations could affect bilateral trade and market access between the two countries.
