Sitharaman Hopeful Of Trade Deal With US By 'Fall This Year,' Highlights Bilateral Engagements Including Vance's India Visit

Union Finance Minister Nirmala Sitharaman expressed confidence over coming to a trade agreement or 'at least a first tranche' of it with the United States (US) by 'fall this year' while speaking in San Francisco on Sunday (20 April), Indian Express reported.

Highlighting the 'keenness' of engagements between the two countries, she mentioned the visit of US Vice President J D Vance to India, Prime Minister Narendra Modi's visit to the US in February and Commerce Minister Piyush Goyal's visit earlier.

"I have come here because I also have the IMF (International Monetary Fund' and World Bank meeting but I am scheduled to meet the Treasury Secretary, my counterpart here," Sitharaman said, adding that at the same time VP Vance would be meeting PM Modi in India.

Sitharaman is currently on an official visit to the US, scheduled to be in San Francisco and Washington DC from 20 to 25 April. During her visit, she will attend the spring meetings of the IMF and the World Bank.

"In between all this, the Assistant USTR had visited India to see the progress or to engage with the negotiating team who is dealing with the tariff-related negotiation and the bilateral trade agreement that we want to sign," the Finance Minister added.

"In fact, the progress of the agreement or the trade agreement that we are working on, at least a first tranche is something which we hope to conclude positively by the fall this year,” she asserted, clarifying that the engagements are not just for reciprocal tariff-related matter.

Emphasising that the US is India's largest trading partner and that India is the fastest-growing economy, Sitharaman said, "India, China, many other such countries, can be the engine to pull the world trade which is in the negative or just about positive zone, they recognise the potential that exists in India."