3 hrs ago
Sitharaman Says India Needs Distinct Trade Templates
Nirmala Sitharaman said India needs different plans when it makes trade deals with different countries.
Each country has different trade concerns and priorities.
India and the United States are still negotiating, and their agreement is not finished.
India’s talks with the European Union had to consider sensitive areas such as farming and dairy.
Sitharaman said countries also need to make supply chains more reliable.
She said India’s trade gap with China has grown, so discussions with China need negotiation and compromise.
She also said countries are making more deals with one another as international trade institutions weaken.
India is preparing a new approach to agreements that protect investments.
India hopes to reach at least three more such agreements by December.
Finance Minister Nirmala Sitharaman said India cannot use one template for trade negotiations with all major economies.
India's talks with the United States remain ongoing and have not produced a finalized agreement.
She said negotiations with the European Union addressed sensitive sectors and supply-chain resilience.
Sitharaman said India's growing trade deficit with China requires negotiation and give-and-take, as tariffs are increasingly used as leverage globally.
India is developing a new bilateral investment protection framework and hopes to conclude agreements with at least three more countries by December.
- Who
- Finance Minister Nirmala Sitharaman
- What
- Sitharaman said India needs different approaches for trade negotiations with different partners and described a new investment-protection framework.
- Where
- Munich Leaders’ Meeting in New Delhi
- When
- Monday; the article does not specify the calendar date.
- Why
- Trade relationships differ by partner, while tariffs, geopolitical risks, supply-chain concerns and trade imbalances are increasingly shaping negotiations.
Key facts
- India-US trade, FY26
- $140.77 billion, up from $132.14 billion in FY25
- India-US trade surplus
- $33.86 billion in FY26, down from $40.89 billion in FY25
- India-US negotiations
- Bilateral trade agreement talks began in February 2025 and remain unfinished.
- Investment framework
- A revised bilateral investment protection framework is expected to receive cabinet approval shortly.
- Target for investment agreements
- India hopes to conclude agreements with at least three more countries by December.
- Canada discussions
- A pact could be concluded by December or early next year if negotiations progress as planned.
- Meeting dates
- The New Delhi Munich Leaders’ Meeting took place on 4–5 October; the article does not specify the year.
Quotes
Nirmala Sitharaman
India’s finance minister
“The templates can exist for different countries in different parts of the world.”
livemint.com
“Multilateralism is not going to go away, and multilateralism shouldn’t go away.”
livemint.com
Sources
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