New Delhi, July 17 (FN Bureau) Underscoring that the US and India are among the closest partners in the world, the US Treasury Secretary Janet Yellen on Monday said that the two nations are partnering to create an investment platform which would lower capital cost and boost private investment for India’s energy transition. “Our collaboration spans a range of economic issues including commercial and technological collaboration, strengthening supply chains and catalysing clean energy transition. In particular, we look forward to working with India on an investment platform to deliver a lower cost of capital and increased private investment to India’s energy transition,” Yellen said while jointly addressing the media with India’s Finance Minister Nirmala Sitharaman ahead of the bilateral meeting on the sidelines of a G20 meeting.
Yellen said that India-US bilateral trade had reached all-time high last year and it will further grow in coming years. She appreciated India’s leadership during its G20 Presidency. “We highly value our bilateral relationship with India. The US and India are among the closest partners in the world. The US appreciates India’s leadership during its G20 Presidency and we will continue our close cooperation,” she said. In her statement, Finance Minister Nirmala Sitharaman said that the state visit of Prime Minister Narendra Modi to the US last month and his meeting with the US President have enhanced the strength and dynamism of the partnership.
“This historic visit paved the way for new avenues of collaboration, propelling our partnership to a greater height. Today, our discussions highlight the commitment of India and the United States to actively further the G20 agenda,” she said. She further said, “By leveraging each other’s expertise and resources, we actively promote economic growth, foster innovation, and drive sustainable development. Our partnership will create a prosperous and equitable future, making it a catalyst for positive change worldwide.”