New Delhi, April 21 (HS): Union Finance and Corporate Affairs Minister Nirmala Sitaraman expressed hope on Monday that the first phase of India's trade agreement with the United States will be positively concluded by this autumn. She is on a visit to the U.S. to participate in several important meetings between the two countries.

While addressing the Indian community in San Francisco, Union Finance Minister Nirmala Sitaraman stated, The purpose of negotiations with the United States is not just a mutual tariff-related matter, but it is also in the interest of our largest trading partner, with whom we need to reach an agreement. Sitaraman spoke to expatriate Indians at a community gathering organized at the India Community Center in San Francisco, California.

In her address during an event, Sitaraman mentioned that our fiscal deficit increased during the COVID-19 pandemic, but in 2021, we made it clear how we want to manage our fiscal deficit. We set year-on-year targets and are committed to bringing the fiscal deficit down below 4.5 percent by 2026, and we are adhering to this every year without fail.

Union Finance Minister Nirmala Sitaraman is on a five-day visit to the U.S., where she will attend the Spring Meetings of the International Monetary Fund and the World Bank, as well as the G-20 Finance Ministers and Central Bank Governors meeting. Additionally, she is scheduled to meet with U.S. Treasury Secretary Scott Bessen and is expected to speak with officials from the United States Trade Representative's office.

Hindusthan Samachar / Jun Sarkar