U.S. Treasury Undersecretary Wally Adiemo called for greater supply chain resilience between “trusted partners” like the U.S. and India to maintain a free and open Indo-Pacific.
The message was conveyed during Adeyemo’s visit to India, which saw a discussion of key shared priorities such as enhancing energy security and addressing global food insecurity.
On Friday, the US Treasury Secretary met in New Delhi with several senior Indian government officials, including Finance Minister Nirmala Sitharaman.
The U.S. Treasury Department said: “At the Deputy Secretary’s Meeting in New Delhi, he (Wally Adiemo) continued to emphasize the importance of deepening the already strong relationship between the United States and India through platforms such as the Quad and the Indo-Pacific Economic Framework. emphasized,” he said. in a statement.
Both the United States and India acknowledge their shared interest in promoting global security, stability and economic prosperity through trade, investment and connectivity.
Prime Minister Narendra Modi and US President Joe Biden held two bilateral meetings, reaffirming their commitment to a rules-based and resilient international order that protects sovereignty and territorial integrity .
The two leaders have also participated in multiple engagements of the Quad Leaders Mechanism with Japan and Australia. The United States supports India’s rise as a leading world power and an important partner in safeguarding the Indo-Pacific as a region of peace, stability and prosperity.
“We (the U.S. and India) will strive to achieve greater prosperity for our citizens through these efforts, including steps to strengthen the resilience of supply chains between trusted partners like the U.S. and India,” said Deputy Secretary Adiemo. We stressed that we can maintain a free and open Indo-Pacific that will bring about peace,” he added in the statement.
The U.S. deputy secretary also discussed ways the U.S. and India can work together to address common global challenges such as food insecurity and high energy prices, according to a statement from the Treasury Department. “Ending the aggression against Ukraine is critical to addressing these issues,” the statement said.
The Deputy Secretary also shared with his counterparts the US view on how to put downward pressure on energy prices for consumers and businesses in India, the US and around the world.
Deputy Secretary Adiemo said that while working with partners like India to expand access to renewable energy sources and gradually reduce reliance on fossil fuels, the importance of well-supplied global energy markets repeated sex.
According to the US State Department, in 2021, the total bilateral trade between the US and India in goods and services will reach US$157 billion.
The United States is India’s largest trading partner and most important export market. Many US companies see India as an important market and are expanding their operations there. Similarly, Indian companies are looking to increase their presence in the US market.
(Only the headlines and photos in this report may have been modified by Business Standard staff. The rest of the content is auto-generated from syndicated feeds.)
Dear Reader,
Business Standard has always strived to provide up-to-date information and commentary on developments that are of interest to you and that have wide-ranging political and economic impact on the nation and the world. Your encouragement and constant feedback on how to improve our products only makes our determination and commitment to these ideals even stronger.Even in these difficult times caused by Covid-19. , we remain committed to providing you with authoritative news, authoritative views, and incisive commentary on relevant topical issues to keep you informed.
However, I have a request.
We need your support even more so that we can continue to deliver quality content as we battle the economic impact of the pandemic. We have seen encouraging responses from many users who have subscribed to Increasing subscriptions to online content helps us achieve our goal of providing more relevant and relevant content. We believe in free, fair and responsible journalism. Your support through more subscriptions will help us live the journalism we are committed to.
Supporting high-quality journalism, Subscribe to Business Standard.
digital editor
