Sitharaman On India-US Trade Deal: 'Efforts Being Made, Waiting For Final Results'

Efforts are being made towards the conclusion of India-US trade deal, and the final results remain awaited for now, Finance Minister Nirmala Sitharaman said on Thursday, while speaking at the 12th SBI Banking and Economic Conclave in Mumbai.

The two countries have been engaged in trade discussions in the backdrop of the United States imposing hefty 50% punitive tariffs on Indian exports to the US.

Towards the end of October, US President Donald Trump had said he is ready for a trade deal with India while speaking at the APEC CEOs luncheon in South Korea.

Trump emphasised his "great respect" for Prime Minister Narendra Modi while affirming his interest in a stronger economic relationship.

Union Commerce Minister Piyush Goyal, along with a high-level delegation, visited the US from Sept. 22 to 24, 2025, to advance discussions on bilateral trade and investment. Both sides held "constructive exchanges" on the possible contours of the trade deal, the Commerce Ministry said in an official release on Friday.

Both sides agreed to continue engagements with the objective of reaching an early conclusion of a mutually beneficial agreement, it added.

On a separate occasion, the minister had said, "We hope to work towards a fair and equitable agreement in the near future."

In February this year, leaders of India and the US directed officials to negotiate a proposed Bilateral Trade Agreement.

They have fixed a deadline to conclude the first tranche of the pact by the fall (October-November) of 2025.

During her inaugural address, the Finance Minister also talked about the incumbent government's 'Atmanirbhar Bharat' policy and said that it translates into "resilient interdependence" and not "an isolationalist policy".

Through this policy, she said, India will be able to meet domestic needs while at the same time integrating with global value chains.

The Atmanirbhar mission envisions an India which "designs, produces, and innovates for itself and for the world", she emphasised.