FX.co ★ India, US to Hold Key Trade Talks This Week

India's Finance Minister, Nirmala Sitharaman, is set to meet with U.S. Treasury Secretary Scott Bessent in Washington this week as both nations work toward finalizing a trade agreement anticipated by the year's end. Sitharaman is attending the Spring Meetings of the International Monetary Fund and the World Bank, while U.S. Vice President J.D. Vance is visiting India to confer with Prime Minister Modi. These visits take place amidst a 90-day suspension of increased tariffs, during which New Delhi is focused on finalizing the agreement's framework. Sitharaman expressed India's proactive efforts to obtain relief from reciprocal tariffs and strengthen trade relations, noting the "enthusiastic engagement with the U.S. administration" fuels her optimism that the initial phase of a deal could be achieved by autumn. India's principal trade negotiator is also in the U.S. this week for face-to-face negotiations, succeeding virtual discussions conducted earlier this month. President Trump has cautioned that tariffs on Indian exports may escalate from 10% to 26% if the negotiations do not yield an agreement.