India-US trade negotiations going in full speed: Sitharaman

Union Finance Minister Nirmala Sitharaman on Sunday said negotiations between India and the United States on a trade deal are going on in "full speed" and expressed hope that it will conclude soon.

The ongoing trade deal negotiations briefly came up for discussion during a pull aside between Sitharaman and US Treasury Secretary Steven Mnuchin at the IMF headquarters. Mnuchin is scheduled to visit India early next month.

"In fact, I broadly mentioned it to Secretary Mnuchin, but that is something on which the Commerce minister and Mr (Robert) Lighthizer (US Trade Representatives) are working. My inputs are that the negotiations are going in full speed and there's a great intensity with which both sides are engaging and hopefully the deal will be structured soon," Sitharaman said.

Responding to a question, she said a totalisation agreement with the US has always been on the cards.

"One of the reasons why that was never responded to was that India did not have a social welfare net or ...