Finance minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen will lead the ninth meeting of the India-US Economic Financial Partnership (EFP) in New Delhi today. Yellen’s visit to India will aim at bolstering bilateral economic ties, and stronger supply chains.
The finance ministry said in a tweet, “Union Finance Minister Smt. @nsitharaman and US Treasury Secretary Dr. @SecYellen will lead the 9th meeting of India-US Economic Financial Partnership #EFP, in New Delhi.”
According to the ministry, during the India-US EFP meeting, both sides will discuss issues of mutual interests such as climate finance, multilateral issues, India-US cooperation at the G20 under India's Presidency, taxation, supply chain resilience, global economy, and macroeconomic outlook.
On the sidelines of the India-US EFP meeting, both Sitharaman and Yellen will also participate in a roundtable interaction on India–US business and economic opportunities with top business leaders and economists, the ministry of finance said. Yellen is also likely to discuss issues pertaining to the shifting of supply chains out of China.
FM Sitharaman met Yellen during her official visit to the US last month.
It may be noted that the India-US bilateral trade pact has been in limbo for a long time. The Trump administration removed certain trade facilitation measures from India, post which India too imposed retaliatory tariffs. Ever since then, both sides have not been able to finalise a free trade pact, and no fruitful deliberation has taken place on the issue even during the Biden rule.
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