NEW DELHI: Finance Minister Nirmala Sitharaman on Monday said that uncertainty surrounding the proposed India–US trade deal should not be seen as a setback, asserting that volatility is an inherent feature of global commerce and will not deter India from pursuing deeper trade integration.
Speaking at the post-Central Board meeting press conference of the Reserve Bank of India, Sitharaman said it was “too early” to assess the full implications of recent developments in the United States. The situation, she noted, remains dynamic and is being closely reviewed by the Commerce Ministry.
“The delegation will take a considered view when they go for further negotiations. It is a bit too early,” she said, underlining a wait-and-watch approach.
Responding to a question on whether recent US developments had nullified efforts to finalise a trade arrangement, the Finance Minister rejected the premise. “Uncertainties have always been there and will continue to be there,” she said, adding that a single agreement should not be seen as the sole factor determining stability in trade relations.
India, she emphasized, remains committed to expanding its global trade footprint. In recent years, the country has concluded or pursued trade agreements with EFTA countries, Australia, New Zealand, the UAE, Qatar, Oman, the United Kingdom and the European Union. The effort to secure wider market access for Indian goods and services will continue irrespective of temporary disruptions.
“Our attempt to have trade agreements will go on because we want the Indian economy to have the advantage of trading globally and reaching global markets,” she said.
RBI Governor Sanjay Malhotra complemented the government’s position by highlighting the strength of India’s external sector, suggesting that the macroeconomic fundamentals provide resilience amid global uncertainty.
He noted that India’s current account deficit remains manageable—around the 1% of GDP range—and that foreign exchange reserves are adequate. Gross foreign direct investment inflows have remained robust, both last year and this year, he said.
Malhotra also pointed to policy measures that strengthen the capital account, including liberalisation steps such as allowing 100% foreign direct investment in the insurance sector. Trade agreements and investment commitments in emerging sectors such as data centres and technology infrastructure further support the external position, he added.