Treasury Secretary Yellen to go to India to deepen US-India financial ties

US Secretary of the Treasury Janet Yellen will go to India to take part within the US-India Financial and Monetary Partnership on November 11 and talk about how the 2 nations can work collectively to deepen their financial ties, in line with an official announcement right here on Friday.

In New Delhi, Yellen will spotlight the power of America’s partnership with India, which continues to deepen, the Treasury mentioned in an announcement.

Yellen will meet with know-how sector leaders and go to the Microsoft India Improvement Centre, the place she is going to ship remarks on america’ financial partnership with India, it mentioned.

She would additionally maintain a bilateral assembly with Union Finance Minister Nirmala Sitharaman.

Following the US-India Financial and Monetary Partnership (EFP) dialogue, Yellen will be a part of Sitharaman for a hearth dialogue with executives from main Indian firms and American firms working in India.

To conclude the day, Yellen and Sitharaman will signal a joint assertion on the EFP dialogue.

Yellen will spotlight the shut ties between American and Indian folks and companies, and word methods we will additional our bilateral financial relationship, together with via the Indo-Pacific Financial Framework and stronger provide chains via friend-shoring, it mentioned.

She is going to reaffirm America’s and India’s shared democratic values and dedication to upholding a rules-based worldwide order because the world’s largest democracies, it mentioned.

Yellen may even welcome India’s assumption of the G20 presidency subsequent month and talk about alternatives to make progress on international challenges via international local weather motion, evolving the multilateral improvement banks (MDBs), additional strengthening international well being structure, and advancing debt aid for low-income nations and rising markets, the Treasury mentioned.

Yellen shall be travelling to Bali from New Delhi to characterize the US on the G20 Joint Finance and Well being Ministers’ Assembly on November 12 and accompany President Joe Biden on the G20 Leaders’ Summit on November 15 and 16.

In Indonesia, Yellen may even take part in different occasions and bilateral conferences, together with with Italian Minister of Economic system and Finance Giancarlo Giorgetti.

All through these occasions and conferences, she is going to be a part of Biden in rallying the worldwide coalition to carry Russia accountable for its brutal conflict in Ukraine and to help the folks of Ukraine.

Yellen may even assist lead the worldwide response to macroeconomic challenges, together with financial disruptions and elevated international inflation from the COVID-19 pandemic and Russia’s unlawful conflict in opposition to Ukraine, that are notably dangerous to low- and middle-income nations, the Treasury mentioned.