US Treasury Secretary Janet Yellen said her country views India as an “indispensable partner”.
Turning her route to India after her visit to China last week, Yellen went to the state of Gujarat to attend the G20 Treasury-Finance Ministers meeting.
Making statements to the press before the meeting, Yellen said that the United States considers India an “indispensable partner” within the scope of its “friendly-shoring” policy, which is defined as building supply chains through countries with which it has close relations.
Stating that the private sector plays an important role in the policy of “supply from friendly countries”, Yellen pointed out that the investments of companies that “see India as a place that produces and exports to the USA” have increased.
“The US is India’s largest export market, and last year our bilateral trade hit an all-time high and we want to see it grow further,” Yellen said. said.
Treasury Secretary Yellen also stressed that the fight to prevent Russia from circumventing international sanctions over the Ukraine War is “one of the main objectives” of this year.
Expressing that she saw her visit to China last week as a step towards “providing stronger and productive communication channels and establishing relations on a more solid foundation,” Yellen stated that China and the United States, as the world’s two largest economies, should cooperate on their common concerns.
Yellen is expected to visit Vietnam after India.