India-US Trade Deal Talks Hit Plateau, Sitharaman Says

India and the United States have reached a difficult stage in negotiations over a long-awaited trade agreement, with little room left for either side to make additional concessions, Indian Finance Minister Nirmala Sitharaman said Monday.

Speaking at an event in New Delhi, Sitharaman said India-US trade deal negotiations had reached a “plateau,” suggesting that resolving the remaining differences could prove challenging.

Giving or taking more beyond the current position would be “very, very difficult” for both countries, she said. However, Sitharaman indicated that negotiations could still move forward if either side identifies areas where additional flexibility is possible.

“Maybe if there are rooms to operate from, both sides would do it,” she said.

Her comments follow remarks from US Trade Representative Jamieson Greer, who said last week that an India-US trade agreement was not imminent. Greer’s assessment came after talks with Indian Trade Minister Piyush Goyal in the United States.

Sitharaman described the negotiations as difficult but emphasized that discussions remain active.

“It’s been a hard and very vigorously negotiated agreement. The negotiations are still ongoing,” she said.

India and the United States have been negotiating a trade agreement since February 2025 as the two major economies seek to strengthen commercial ties and address long-running disputes over market access.

One key issue is the bilateral trade imbalance. Sitharaman noted that the trade balance currently favors India, leaving the United States with a deficit that Washington wants to narrow.

“They would want to reduce that imbalance,” she said.

The latest comments reinforce signs that the negotiations are facing significant obstacles despite efforts by both governments to reach a deal. Reuters previously reported that India was pushing for more favorable terms in its trade negotiations with Washington.

Any eventual India-US trade deal could have significant implications for bilateral commerce, tariffs and market access, but Sitharaman’s remarks suggest that further compromises may be increasingly difficult to secure.