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India indispensable partner to United States, says Janet Yellen


NEW DELHI: US Treasury Secretary Janet Yellen on Friday said India is an indispensable partner for the United States and Washington looks forward to supporting New Delhi as the G20 chair to achieve shared global priorities. She spoke at the US-India Business and Investment Opportunities event here.
Speaking before the event, Minister of Finance Nirmala Sitharaman India has emerged as one of the fastest growing major economies in the world.
India recently overtook Britain as the world’s fifth largest economy, she said, and is expected to be among the top three economic powers globally within the next 10-15 years.
Economic ties between the two countries are reaching new heights. The US is India’s largest trading partner and bilateral trade has reached an all-time high of more than $150 billion in 2021.
Yellen, who is on an official visit to India, said that as US President Biden said earlier this year, India is an indispensable partner for the US.
“That is especially true today. I believe these pressing challenges are bringing India and the United States closer together than ever before,” she said.
The bilateral partnership is especially important as India prepares to assume the G20 presidency.
In the coming year, “we look forward to supporting India’s presidency and making progress on our shared global priorities,” she said.

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