Love to have 'big, beautiful' trade deal with US; earlier the better for India, says FM

Union Finance Minister Nirmala Sitharaman on Monday said that an early conclusion of the India–US trade deal would be in New Delhi's best interest ahead of the July 9 deadline set by US President Donald Trump to impose reciprocal tariffs.

"Yes, I'd love to have an agreement, a big, good, beautiful one; why not?" Sitharaman told the Financial Express newspaper in an interview.

She added that agriculture and dairy are "big red lines" for India in its ongoing trade negotiations with the US. Donald Trump said last week that America was going to have a "very big" trade deal with India, but gave no details.

Meanwhile, officials from India will extend their Washington visit to try to reach an agreement on a trade deal with Trump's administration and address lingering concerns on both sides, according to two Indian government sources.

Trade talks between India and the US have hit roadblocks over disagreements on import duties for auto components, steel, and farm goods, ahead of Trump's July 9 deadline.

The Indian delegation had been expected to conclude discussions by last Friday, but was staying on until at least Monday evening to iron out differences and move towards an agreement, officials said, declining to be named as the discussions are private. 

"There are certain disagreements over opening up the agriculture and dairy sectors, though India has offered tariff concessions on 90 per cent of tariff lines. A final call will be taken by the political leadership of the two countries," one of the government sources said. "The Indian delegation could stay for another one to two days if discussions continue," the second source said. 

India's commerce ministry and the US Trade Representative Office did not immediately respond to requests for comment.