New Delhi, May 28 -- According to its monthly report released Tuesday, India's finance ministry believes that a successful trade deal with the United States could transform existing economic challenges into growth opportunities.

The ministry emphasised that such an agreement would open new markets and stimulate export activity, though it acknowledged that global uncertainties continue to pose risks.

The two nations are currently engaged in negotiations to finalise a trade deal, with preliminary indications suggesting the first phase could be completed before July.

However, recent US tariff measures have introduced complications into India's export prospects.

The United States imposed a 26 percent tariff on Indian imports in April, cre...