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Nirmala Sitharaman's Key Statement on India-US Trade Deal: Negotiations Ongoing!
- •Finance Minister Nirmala Sitharaman stated that discussions on the India-US trade deal are ongoing, emphasizing the complexity of negotiations.
- •On October 5, Sitharaman noted that multiple rounds of talks have occurred, making significant concessions challenging at this stage.
- •She highlighted that trade deal negotiations are difficult and lengthy, requiring both countries to prioritize their respective interests.
- •The US seeks to reduce its trade deficit with India and expects concessions to offset past trade losses, as the trade balance favors India.
- •Current discussions are based on an initial trade agreement framework from February 2026, with talks to expand it initiated after PM Modi and President Trump's meeting in February 2025.
Key Questions Answered
Finance Minister Nirmala Sitharaman stated on October 5 that several rounds of talks have taken place and both sides have presented their perspectives, making it difficult to make major concessions right now. She clarified that the proposed trade deal has not yet been finalized and that negotiations are difficult and lengthy.
India's trade surplus with the United States is approximately $12.3 billion. During the April-July period of the current financial year, India's exports to the US totaled $34.5 billion, while imports from the US stood at $22.2 billion.
The current discussions between India and America are based on the framework of an initial trade agreement finalized in February 2026. This process originated after talks between Prime Minister Narendra Modi and US President Donald Trump in February 2025.
