Union Finance Minister Nirmala Sitharaman. File
| Photo Credit: PTI
Hopes are on to “positively conclude” the first part of a trade pact with the United States by this autumn, Finance Minister Nirmala Sitharaman said on Monday (April 21, 2025) as she started on a trip packed with engagements between the two nations.
“The long and short of engaging with the U.S. is not just for this reciprocal tariff related matter, but in the interest of… our largest trading partner with whom we need to have an agreement,” Ms. Sitharaman said in an address to the Indian diaspora in San Francisco.
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“Ms. Sitharaman is on a five-day trip to the United States, where she will join the spring meetings of the International Monetary Fund (IMF) and the World Bank, and the meeting of G20 Finance Ministers and Central Bank governors,” according to a government statement.
She is also scheduled to meet the U.S. Treasury Secretary Scott Bessent and is expected to speak to officials at the United States Trade Representative’s office.
Her visit comes in a week of multiple engagements between the two countries that will focus on trade, as the Union Government wants to avoid steep U.S. tariffs with an early trade deal and boost ties with the Donald Trump administration.
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Officials are hoping to firm up an agreement with Washington within the 90-day pause on tariff increases announced by Mr. Trump on April 9, 2025 for major trading partners, including India.
“The chief negotiator for the deal, Rajesh Agrawal, is expected to make a three-day trip to the United States starting from Wednesday (April 23, 2025),” an official said.
U.S. Vice-President J.D. Vance also began a four-day visit to India on Monday (April 21, 2025) and will hold talks with Prime Minister Narendra Modi. Mr. Modi and Mr. Vance are expected to review progress made on the bilateral agenda outlined in February when Mr. Modi met President Donald Trump in Washington.
India eyes quick U.S. trade deal amid tariff pause, official says
“The Centre is open to cutting tariffs on more than half of its imports from the U.S., which were worth a total $41.8 billion in 2024, as part of a trade deal,” Reuters has reported.
The U.S. is the largest trading partner and the two-way bilateral trade reached $129 billion in 2024, with a $45.7 billion surplus in favour of India, the U.S. Government trade data show.
Published – April 21, 2025 01:29 pm IST
