New Delhi, 23 February (HS): Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Monday said it would be premature to comment on the impact of recent changes in US tariffs, adding that the Commerce Ministry is reviewing the situation.

Addressing the media in New Delhi, Sitharaman said India has a clear approach towards trade agreements and has concluded agreements with countries including Australia, New Zealand, the United Arab Emirates, Qatar, Oman, the European Union and the United Kingdom. She said India will continue its efforts to enter into trade agreements with various nations and aims to ensure that its economy benefits from access to global markets.

Responding to a query on the rise in gold prices, the Finance Minister said that most of the gold available in the domestic market is imported and that India does not have sufficient domestic sources to meet demand. She said steps are being taken to enhance domestic exploration and production, but they are not adequate to fully meet consumption requirements.

Sitharaman said the rise in gold and silver prices is influenced by global trends, noting that many countries, particularly their central banks, are purchasing and holding gold and silver. She added that the current surge is largely linked to buying and stockpiling by central banks.

Earlier, Sitharaman addressed the Reserve Bank of India’s Central Board of Directors along with Minister of State for Finance Pankaj Chaudhary and RBI Governor Sanjay Malhotra during a post-Budget meeting in New Delhi.

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Hindusthan Samachar / Jun Sarkar