Tatsat Chronicle Magazine

US Secretary of Treasury, Janet Yellen, to visit India ahead of G 20 summit

November 7, 2022
Janet Yellen
Federal Reserve Board Chairwoman Janet Yellen (L) and International Monetary Fund Managing Director Christine Lagarde (R) speak about global finance during a conference May 6, 2015 in Washington, DC. The Institute for New Economic Thinking held its Finance & Society conference at IMF headquarters held the event.

United States of America (USA) Secretary of the Treasury Janet L. Yellen will be in India this week to participate in the U.S.-India Economic and Financial Partnership on November 11. She would hold a bilateral meeting with Union Finance Minister Nirmala Sitharaman and discuss how the two countries can work together to deepen their economic ties, an official announcement said.

In New Delhi, Yellen will highlight the strength of America’s partnership with India, which continues to deepen, the Treasury said in a statement. Yellen will meet with technology sector leaders and visit the Microsoft India Development Centre, where she will deliver remarks on the United States’ economic partnership with India, it said.

Following the US-India Economic and Financial Partnership (EFP) dialogue, Yellen will join Sitharaman for a fireside discussion with executives from major Indian companies and American companies operating in India. To conclude the day, Yellen and Sitharaman will sign a joint statement on the EFP dialogue.

The announcement further said that Yellen will highlight the close ties between American and Indian people and businesses and note ways we can further our bilateral economic relationship, including through the Indo-Pacific Economic Framework and stronger supply chains through friend-shoring. Secretary Yellen will then travel to Bali, Indonesia to represent the United States at the G20 Joint Finance and Health Ministers’ Meeting on November 12 and accompany President Biden at the G20 Leaders’ Summit on November 15 and 16.

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

In Bali on November 12, Secretary Yellen will represent the United States at the G20 Joint Finance and Health Ministers’ Meeting and next day she will participate in an event celebrating the launch of the Pandemic Fund, a historic achievement of the G20 Indonesian Presidency for which the United States was an early supporter and one of the largest donors with an initial $450 million contribution.

Girja Shankar Kaura

The writer is a Delhi-based freelance journalist, who has reported and written on a wide range of subjects in an extensive career.