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‘India values US as a trusted partner’: Nirmala Sitharaman on India-US ties

Union Finance Minister Nirmala Sitharaman met US Treasury Secretary Janet Yellen ahead of the 9th meeting of the India-US Economic Financial Partnership in New Delh (Ministry of Finance Twitter)

At the joint press conference, the Finance minister stated, “India deeply values its relationship with the US as a trusted partner... Our strong ties have been reinforced, through significant and frequent interactions between Prime Minister Narendra Modi and US President Joe Biden and their commitment towards consolidating a strategic partnership." 

"We will continue to rely on the close cooperation of the US to address the global economic challenges, in a more coordinated manner and in strengthening multilateralism," the finance minister added.

Talking about the great ‘rigor’ in the India-US relationship, she said, "Meeting today we lend greater rigor to economic relationship, strengthen businesses-to-business links, and facilitate coordinated policy stance to address the pressing global economic challenges,"

Yellen who is in India to participate in the US-India Economic and Financial Partnership also emphasized the close ties between Indian and American businesses and people while listing ways to further the bilateral relationship including through the Indo-Pacific Economic Framework and stronger supply chains through friend-shoring. 

Speaking at the 9th meeting of the India-US Economic Financial Partnership, in Delhi, Yellen said "Our strong trade, investment and people-to-people ties make bilateral, economic, and financial relationships, a critical element to our partnership,"

"Collaboration in this forum (Indo-Pacific) can promote each of our economies' growth and stability and can also be instrumental to supporting economic prosperity across Indo-Pacific. We're also eager to discuss our shared priorities as India assumes G20 presidency," She added

Yellen also emphasized the need for multilateral institutions, addressing the debt burden faced by many developing countries and mitigating the existential threat posed by climate change.

"We hope that mutual understanding we built will help us work together to advance our shared goals, including mitigating the existential risk of climate change, providing multilateral institutions, and addressing debt burdens faced by many developing countries,"

India recently joined the US-led Indo-Pacific Economic Framework(IPEF) in a bid to boost economic ties further.

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