Key facts
- India and the US have reached a plateau in trade deal talks, according to India's Finance Minister Nirmala Sitharaman.
- Sitharaman said further concessions would be "very, very difficult" for both countries.
- US Trade Representative Jamieson Greer indicated last week that an agreement was not imminent.
- The trade balance between India and the US is in India's favor, with the US seeking to reduce the deficit.
India and the United States have reached a plateau in their trade deal negotiations, with further concessions proving difficult for both sides, India's Finance Minister Nirmala Sitharaman said on Monday.
"Giving or taking more beyond that plateau would be 'very, very difficult' for both countries," Sitharaman said at an event in New Delhi. She added, "Maybe if there are rooms to operate from, both sides would do it."
Last week, US Trade Representative Jamieson Greer stated that an agreement was not imminent following a meeting with Indian Trade Minister Piyush Goyal in the United States. "It's been a hard and very vigorously negotiated agreement. The negotiations are still ongoing," Sitharaman said.