US treasury secy Janet Yellen to visit India on Nov 11 for EFP dialogue

Yellen will meet with tech sector haeds, visit Microsoft India Development Center, and hold a bilateral meeting with FM Sitharaman

The US treasury secretary Janet Yellen will visit New Delhi on 11 November to participate in the 9th India-US Economic and Financial Partnership (EFP) dialogue, to be co-chaired by finance minister Nirmala Sitharaman.

“Secretary Yellen will highlight the strength of the United States’ partnership with India, which continues to deepen,” the US treasury department said in a statement.

Yellen will meet with technology sector leaders and visit the Microsoft India Development Center where she will deliver remarks on the United States’ economic partnership with India. She will then hold a bilateral meeting with finance minister Sitharaman.

Following the EFP dialogue, Yellen will join Sitharaman for a fireside discussion with executives from major Indian companies and American companies operating in India. Secretary Yellen and Minister Sitharaman will sign a joint statement on the EFP dialogue.

 “Throughout her visit to India, Secretary Yellen will discuss how the United States and India have worked together to deepen their economic ties. Secretary 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,” the statement said.

“Yellen will reaffirm America’s and India’s shared democratic values and commitment to upholding a rules-based international order as the world’s largest democracies. 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.”

After concluding her day-long visit to India, secretary Yellen will travel to Bali, Indonesia to represent the United States at the G20 Joint Finance and Health Ministers’ Meeting on November 12 and accompany President Joe Biden at the G20 Leaders’ Summit on November 15 and 16.

Both sides launched EFP dialogue in 2010 as a framework to cement the economic bonds between the two nations and build a foundation for greater cooperation and economic growth.  At this meeting of the Economic and Financial Partnership — the first since the onset of the global COVID-19 pandemic — we reiterated that regular and productive dialogue on economic policies is crucial to the U.S.-India relationship and to achieving our shared global future.