Union Finance Minister Nirmala Sitharaman will not attend this week’s annual World Bank and International Monetary Fund meetings in Washington, as India and the United States remain in talks over trade tariffs related to Russian oil purchases, the Hindustan Times reported.
The Indian delegation will be led by Secretary of the Department of Economic Affairs, Anuradha Thakur. The team will include Reserve Bank of India Governor Sanjay Malhotra and Chief Economic Adviser V Anantha Nageswaran, too, the report said.
The 2025 Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) began on Monday, 13 October and will run until 18 October at the IMF and World Bank Group headquarters, in Washington, DC.
Global financial stability
The gatherings bring together finance ministers, central bankers and senior officials from over 100 countries to discuss global financial stability, poverty eradication and climate change, among other priorities.
The Finance Minister’s absence comes amid ongoing trade tensions, following the Donald Trump administration’s decision to impose a 50 per cent tariff on Indian goods — including a 25 per cent penalty linked to India’s purchases of Russian oil.
The delegation from India is scheduled to take part in key meetings with BRICS, the G20, and the G24—a coalition of developing nations—as well as a session of the IMF’s Board of Governors, the institution’s highest decision-making body, the Hindustan Times said.
India-US ties
The relations between New Delhi and Washington have been reeling under severe stress after Trump doubled tariffs on Indian goods to a whopping 50 per cent, including a 25 per cent additional duty for India’s purchase of Russian crude oil.
India described the US action as “unfair, unjustified and unreasonable”. India has also been upset over Trump’s new policy on H1B visas.
However, recent phone conversations between Prime Minister Modi and US President Trump have raised hopes for a positive outcome from the ongoing trade negotiations.
Last week, US Ambassador-designate Sergio Gor held talks with Prime Minister Narendra Modi on various issues and said that President Donald Trump considers the Prime Minister a great and personal friend.
Commerce Minister Piyush Goyal met with US Trade Representative Jamieson Greer in New York last month in a bid to build on the improvement in bilateral relations that had emerged in September.
Goyal said on 7 October that India and the United States are continuing their dialogue on the proposed bilateral trade agreement (BTA), including the possibility of meeting the November 2025 deadline.
“We are in constant dialogue with the USA (on the trade pact), and talks are on at various levels. We will give more information on this soon on how we are thinking to take it forward,” he said, according to the news report by PTI.
External Affairs Minister S Jaishankar also met with US Secretary of State Antony Blinken on the sidelines of the UN General Assembly.
Sitharaman attended the Spring meetings of both institutions in Washington DC in April this year.
The IMF and World Bank are considered key pillars of the global financial system. While the IMF focuses on maintaining financial stability and assisting countries in distress, the World Bank focuses on development, poverty reduction and climate change.
India Finance Minister, World Bank IMF meetings, trade tariffs, Russian oil, global economic stability, trump tariff, donald trum, IMF meetings, World Bank meetings, India US tie, India Us Trade talks, FM Nirmala Sitharaman
#Nirmala #Sitharaman #IMF #World #Bank #meetings #Washington #tariff #talks #continue