India-US Bilateral Trade Agreement In Full Force, Deal To Be Finalised Soon, Says Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman on Thursday said that bilateral trade negotiations between India and the United States are in full force and likely to conclude soon. She noted that India will have to wait for the outcome of the ongoing discussions.

“Efforts to have the trade agreement signed are in full force. We will wait for the conclusions,” Sitharaman said during her address at the SBI Banking and Economics Conclave 2025.

Sitharaman highlighted that India is actively engaging in talks with both the European Union and the United States to finalise their respective trade deals. “We will have to wait for that final destination to be reached. Efforts are being made—there are just no second thoughts on that. The Commerce Ministry is seriously engaged in negotiations with the EU and the US,” she added.

MEA Reiterates India-US Deal

Last week, the Ministry of External Affairs also reiterated that the Indian government remains engaged with the US to finalise the trade pact, and that discussions are ongoing. Union Commerce Minister Piyush Goyal had earlier stated in October that talks are “progressing in a cordial manner.” However, he emphasised that a comprehensive agreement will only be reached once India’s national interests are safeguarded.

“No agreement until the interests of the nation—India’s farmers, fishermen, and MSME sector—are fully addressed,” Goyal had said.

India-US Deal: So Far

There have been five rounds of high-level trade negotiations with the US so far. Simultaneously, the Government of India is also pursuing trade agreements with multiple partners, including New Zealand, the UK, and Chile.

According to a report by Mint, the deadline for the first tranche of the potential trade deal was initially scheduled for October–November this year. Following the meeting between Prime Minister Narendra Modi and former US President Donald Trump in February, both leaders have been pushing for a deal aimed at boosting bilateral trade to $500 billion by 2030, up from the current $191 billion.

However, a smooth path to the bilateral trade deal appears challenging as the US continues to push for greater market access in agriculture—an area that could place Indian farmers’ interests under significant strain.