US Treasury Secretary Yellen to visit India in November

 US Treasury Secretary Yellen to visit India in November

Finance Minister Nirmala Sitharaman with US Treasury Secretary Janet Yellen in Washington DC. photo credit: Shriram Laxman

US Treasury Secretary Janet Yellen will visit India in November and participate in the US-India Economic and Financial Partnership ahead of the G20 meetings, she informed Finance Minister Nirmala Sitharaman.

Finance Minister Nirmala Sitharaman held bilateral talks with her US counterpart, Treasury Secretary Janet Yellen, during which Ms Yellen announced that she would visit India in November.

"I am pleased to announce today that ahead of the G20 meetings in November, I will be making my first visit to India as Treasury Secretary to attend our ninth partnership meeting, the US-India Economic and Financial Partnership," Ms Yellen said, when both delegations reached the U.S. on Tuesday evening. They were sitting at tables across from each other in the Treasury.

Ms Sitharaman confirmed that the talks will take place in New Delhi on November 11.

"The agenda is, of course, broad and varied," she said of next month's meetings, highlighting some key areas for discussion.

This included taking stock of the world economy; financial, regulatory and technical cooperation; Cooperation during India's G20 Presidency; How Municipal Bonds can be helpful for India; and attracting infrastructure investment.

Ms Sitharaman, who is in Washington DC for the World Bank IMF annual meetings, was accompanied by six delegates to Tuesday's talks, including US Ambassador to India Taranjit Singh Sandhu.

'Democracy gives'

“This partnership is important not only to our core economic interests, but it also demonstrates to our citizens and the world that democracy delivers,” Ms Yellen recounted a line by US President Joe Biden about how democracies deliver. using said.

Finance Minister Nirmala Sitharaman with other delegates during a meeting with US Treasury Secretary Janet Yellen in Washington DC. photo credit: Shriram Laxman

Ms Yellen said the two countries suffered from COVID-19 and Russia's war against Ukraine, noting that these have had an impact on food and energy prices. The Treasury Secretary said he looked forward to discussing how the two countries would strengthen supply chains and invest in clean energy.

Ms Yellen also said they would discuss how the US is taking steps to "supply oil markets well in the near term", noting that higher oil prices are affecting consumers in both countries. Is doing.

He also mentioned his willingness to discuss how the US could support India during its G20 presidency (starting in December) and said the US was "delighted" that India was joining the Indo-Pacific Economic Partnership. Is.