{
  "id": 15075477,
  "title": "‘For global trade’s sake, hope our US deal is inked soon’: FM Nirmala Sitharaman",
  "url": "https://urgent.news/2026/10/16/for-global-trades-sake-hope-our-us-deal-is-inked-soon-fm-nirmala",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-16T23:30:00.000Z",
  "source": {
    "name": "The Economic Times - Economy",
    "slug": "the-economic-times-economy",
    "url": "https://economictimes.indiatimes.com/news/economy/foreign-trade/for-global-trades-sake-hope-our-us-deal-is-inked-soon-fm-nirmala-sitharaman/articleshow/135002357.cms"
  },
  "original_language": "en",
  "account": "Finance Minister Nirmala Sitharaman has expressed optimism that the India-US trade agreement will be finalized promptly, emphasizing its significance for global trade and bilateral economic relations between the two nations. During a meeting with the American think tank Atlantic Council, she highlighted China's frequent use of non-tariff barriers as the main obstacle hindering trade between India and China. She called for these barriers to be dismantled, suggesting that due diligence discussions between both countries could resolve issues such as those related to generic drugs, bovine meat, perishables, and other products with great potential in China. In her discussion about trade settlements, she advocated for rupee-denominated transactions to support countries facing currency shortages, ensuring steady supplies of essential goods.\n\nSitharaman also mentioned that India has refrained from employing punitive tariffs to address trade imbalances, instead favoring prolonged negotiations over imposing countervailing duties or non-tariff barriers. She stated that while India supports ASEAN's trade benefits, the present imbalance against India is a concern that must be addressed. The government is currently reviewing the India-US trade pact, aiming to refine the agreement to better suit both parties. Sitharaman acknowledged India's robust growth despite global obstacles, attributing it to inclusive policies and infrastructure development. She stressed the importance of reforming municipal and local government bodies, urging multilateral organizations to become more agile in response to contemporary challenges such as digital payments and stablecoins. She also encouraged BRICS to focus on enhancing the welfare of its populace, rather than serving as a counterbalance to other countries or groups.",
  "summary": "Nirmala Sitharaman expressed optimism regarding the speedy conclusion of the India-US trade agreement during her recent interaction. She highlighted challenges in trade relations with China due to non-tariff barriers causing problems for Indian exporters. The Finance Minister advocated for promoting rupee-denominated trade settlements to assist nations experiencing hard currency shortages.…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}