India’s Finance Minister Nirmala Sitharaman speaks at an event in Mumbai, India, November 18, 2024. REUTERS/Francis Mascarenhas/File Photo Purchase Licensing Rights , opens new tab

NEW DELHI, June 30 (Reuters) – India’s agriculture and dairy are “big red lines” in its ongoing trade negotiations with the United States, Indian Finance Minister Nirmala Sitharaman told the Financial Express newspaper in an interview published on Monday.

India and the U.S. are negotiating a trade deal ahead of President Donald Trump’s July 9 deadline to impose reciprocal tariffs.

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“Agriculture and dairy have been among very big red lines, where a high degree of caution has been exercised,” Sitharaman told the newspaper.

“Yes, I’d love to have an agreement, a big, good, beautiful one; why not?” Sitharaman said, adding that an early conclusion of the trade deal would serve India better.

In the trade talks, the U.S. is pushing for greater access to agricultural goods and ethanol, citing a significant trade imbalance, along with expanded market access for dairy, alcoholic beverages, automobiles, pharmaceuticals and medical devices.

Meanwhile, India’s auto, pharmaceutical, and small-scale firms are lobbying for a gradual opening of the protected sectors, fearing competition from U.S. firms.

Discussions on the trade deal will address concerns of the automobile and other industries with “deep consultations,” said Sitharaman.

Reporting by Nikunj Ohri; Editing by Mrigank Dhaniwala

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