US Treasury Secretary Janet Yellen to Visit India

By siliconindia   |   Tuesday, 08 November 2022, 23:53 IST
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US Treasury Secretary Janet Yellen to Visit India

US Secretary of the Treasury Janet Yellen will visit India to deepen US-India economic ties and join Sitharaman for a discussion with executives from major Indian and American companies operating in India.

The US Secretary of the Treasury Janet Yellen is scheduled to visit India to participate in the US-India Economic and Financial Partnership on November 11th and discuss how the two nations can work together to strengthen their economic ties.

Yellen would highlight the strength of America’s partnership with India, which continues to deepen. She will meet with technology sector leaders, visit the Microsoft India Development Center, and make remarks on the United States’ economic partnership with India. Furthermore, Yellen would hold a bilateral meeting with Union Finance Minister Nirmala Sitharaman.

Yellen and Sitharaman will sign a joint statement on the EFP dialogue to conclude the event. Yellen will highlight the close ties between US and Indian people and businesses and underline ways the countries can enhance their bilateral economic relationship, including through the Indo-Pacific Economic Framework and stronger supply chains through friend-shoring. The Treasury Department also stated that she would reaffirm the United States’s and India’s democratic values and commitment to upholding a rules-based international order as the world’s largest democracies.

Janet Yellen will also welcome India’s assumption of the G20 presidency next month and discuss opportunities to advance global challenges through global climate action, evolving the multilateral development banks (MDBs), further enhancing the global health architecture, and advancing debt relief for low-income countries and emerging markets.

In addition, Yellen will travel to Bali from New Delhi to represent the US at the G20 joint finance and health ministers’ meeting on November 12th and join President Joe Biden on November 15th and 16th for the G20 leaders’ summit. She will also participate in other events and bilateral meetings in Indonesia with Italian Economy and Finance Minister Giancarlo Giorgetti.

In all these events and meetings, Yellen will join Biden in rallying the global coalition and the people impacted by geopolitical tensions. She will help lead the global response to macroeconomic challenges, including economic disruptions and elevated global inflation from the pandemic and geopolitical tensions harming low- and middle-income countries.