India-US trade talks hits 'plateau', Sitharaman hails FTA with EU

Union finance minister Nirmala Sitharaman said on Monday that negotiations for the India-US trade agreement are underway, noting that talks between both nations have reached a plateau, beyond which, she said, "giving or taking might be very, very difficult." Speaking at the Munich Leaders Meeting in New Delhi, Sitharaman said, "The agreement negotiations are still ongoing, although we'd like to believe that both the sides have reached a plateau beyond which giving or taking might be very, very difficult. But maybe if there are rooms to operate from, both sides would do it." She noted that the agreement was still being "very rigorously negotiated". "But what is the predominant feature of the trade relations between India and the US? The trade balance is very much in our favor," Sitharaman said.

India-US Trade Talks Have Reached A Plateau It's difficult to proceed ~ Fin Min Nirmala Sitharaman #IndiaUS https://t.co/RoAJuv7x4v

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Sitharaman hailed India-EU Free Trade Deal and added that there is no "Lindsay Graham bill" in Europe that could determine India's trade negotiations with the European Union. India is expected to conclude Bilateral Investment Protection Agreements with at least three more countries by December this year, she said.  Union Finance Minister Nirmala Sitharaman said that a new template for bilateral investment treaties is ready and is expected to get Cabinet approval soon to make it more investor-friendly.  
She said the new template seeks to provide sharper protection to investors from both sides. Mrs Sitharaman added that India has also concluded similar agreements with the UAE, Oman and some Central Asian countries. The Minister informed that negotiations are underway with several countries, including Canada and Russia, on bilateral investment protection agreements.