MEA spokesperson Randhir Jaiswal addressed a media conference in New Delhi on Friday | Photo credit: ANI
Calling the claims “inaccurate”, the MEA said Modi had spoken to Trump eight times in 2025 and that India and the US had come close to concluding the trade deal several times.
Official denial
“India and the US were committed to negotiating a bilateral trade deal with the US as early as February 13 last year. Since then, the two sides have held multiple rounds of negotiations to reach a balanced and mutually beneficial trade deal. On several occasions, we have been close to an agreement. The characterization of these discussions in the reported comments is incorrect,” MEA spokesperson Randhir Jaiswal said at a media briefing on Friday.
Lutnick had said in an interview that India and the US were close to an agreement, but this did not happen as the Indian Prime Minister had not called the US President. Lutnick said he would negotiate the contracts with the countries and arrange the entire deal. “But let’s be clear, it’s his (Trump) deal. He’s closer. He’s doing the deal. So I said, ‘You have to have Modi, it’s all settled, you have to have Modi call the president.’ They (India) felt uncomfortable about it, so Modi didn’t call,” Lutnick said.
The MEA spokesperson defended Russia’s oil purchases from India, saying global market conditions and the need to provide affordable energy to 1.4 billion people are driving the country’s strategy.
He said India is following the Trump-led bill proposing 500 percent tariffs on Russian oil buyers, including India, China and Brazil.
Market tension
Trade tensions between India and the US have severely impacted the market, with domestic stocks starting 2026 on a weak footing and extending their losing streak to a fifth straight session on Friday.
The US Supreme Court’s ruling on the legality of Trump’s sweeping tariffs, imposed by invoking an economic emergency, is expected to increase market volatility. According to NSDL data, foreign portfolio investors will have raised nearly ₹12,000 crore worth of Indian equities by 2026.
On a positive note, Jaiswal said India remains interested in a mutually beneficial trade deal between the “two complementary economies” and looks forward to concluding one.
With inputs from Bengaluru Bureau
Published on January 9, 2026
#India #rejects #USs #false #claims #failed #trade #deal