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India-US trade talks have reached a "plateau", Finance Minister Nirmala Sitharaman said on Monday at the Munich Security Conference in New Delhi.
Negotiations have dragged on for months, with the sides struggling to resolve sticking points.
What is the status of India-US trade talks?
The negotiations are still ongoing, but Sitharaman said both sides appear to have reached a point beyond which giving or taking might be very, very difficult. An initial understanding announced in February would see Washington reduce tariffs to 18 percent and India cut duties on a range of industrial and agricultural products.
"The agreement's negotiations are still ongoing, although we'd like to believe that both the sides have reached a plateau, beyond which giving or taking might be very, very difficult," Sitharaman said. Responding to a question on concessions, she added that there are "rooms to operate from, both sides would do it".
What is complicating the India-US trade talks?
Several rounds of talks have taken place since the February understanding, but they have been complicated by Washington launching a probe into unfair trade practices against multiple countries, including India. The remarks echoed sentiment expressed by US Trade Representative Jamieson Greer last week.
Greer said he did not believe an announcement was "imminent", but that both sides had identified the "universe of items that are sticking points".
Indian Prime Minister Narendra Modi spoke to US President Donald Trump last week in a telephone call discussing "cooperation in trade, defense, energy critical technologies and other areas", according to a statement from the premier's office.
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