India-US trade talks have hit a plateau, Sitharaman says

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Finance Minister Nirmala Sitharaman said on 5 October 2026, at the Munich Leaders Meeting in New Delhi, that India-US trade talks have reached a plateau. Negotiations are still on, but further concessions look difficult for both sides.

She pointed to the India-EU agreement as the working model. India has opened about 92.5 percent of tariff lines and about 97 percent of trade value. The EU has opened about 99 percent by value.

Sitharaman said the trade balance with the United States is in India's favour. A new bilateral investment treaty template is close to approval, and investment-protection pacts with at least three more countries are possible by December.

Sitharaman spoke at the Munich Leaders Meeting in New Delhi on 5 October 2026. On the India-EU pact, India has opened about 92.5 percent of tariff lines and about 97 percent of trade value, while the EU side is described as about 99 percent by value. The trade balance with the United States is in India's favour. A new bilateral investment treaty template is close, and investment-protection pacts with at least three more countries are possible by December.

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