Nirmala Sitharaman hopes for an early closure of India-US trade deal
Union finance minister Nirmala Sitharaman calls for the multilateral organizations, such as the World Bank and the IMF, to be more nimble-footed.
Finance Minister Nirmala Sitharaman expressed optimism on Friday that the proposed India-US trade agreement would be finalized as soon as possible for the benefit of both bilateral and global trade. Commerce and Industry Minister Piyush Goyal echoed this sentiment, stating during a conversation with foreign policy expert Michael Kugelman at the Atlantic Council, that the first phase of the trade deal has been finalized and is now being legally drafted.
Sitharaman emphasized that the government is aware of its responsibility to ensure public funds are used judiciously, with an emphasis on inclusivity and skilling while maintaining fiscal prudence. The US remains India's largest goods export destination, with trade volume reaching $50.8 billion in the first half of the current fiscal year, up 11% compared to the same period last year.
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