- India-US trade deal talks reached a difficult negotiation plateau.
- Finance Minister Sitharaman noted trade balance significantly favors India.
- No 'Lindsay Graham Bill' in Europe for Russian oil.
Union Finance Minister Nirmala Sitharaman on Monday provided a significant update on the India-US trade deal, saying that both sides have reached a plateau and at this stage "giving or taking might be very, very difficult."
However, she added that both sides would do it if there is room to operate while speaking at the Munich Leaders Meeting.
"The agreement negotiations are still ongoing, although we'd like to believe that both sides have reached a plateau beyond which giving or taking might be very, very difficult. But maybe if there is room to operate from, both sides would do it," she said.
"But what is the predominant feature of the trade relations between India and the US? The trade balance is very much in our favour," Sitharaman added.
New Delhi and Washington are engaged in detailed, extensive talks to seal the trade deal since they reached a framework for the interim deal in February. Soon after that, the US Supreme Court had struck down Trump's punitive tariffs imposed across the globe.
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Earlier on Thursday, Union Minister of Commerce and Industry Piyush Goyal met with US Trade Representative Jamieson Greer. In a post on X, he said, "Had a productive discussion with USTR Greer towards early conclusion of a mutually beneficial interim agreement under the India-US Bilateral Trade Agreement. We also exchanged views on G20 deliberations under US Chairship."
No Lindsay Graham Bill In Europe: Sitharaman on Russian oil purchase
When asked whether India was facing problems with European partners given its purchase of Russian oil, Sitharaman responded that there is no 'Lindsay Graham Bill' there.
"In Europe, as much as I understand till today, there is no Lindsey Graham bill," Sitharaman said.
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Notably, the Lindsay Graham Bill is a US legislation that President Donald Trump signed on September 8 this year, targeting the Russian economy and its energy purchasers over the war in Ukraine.