A senior US Treasury Department official will journey to India subsequent week to carry talks with prime Indian officers to reinforce the sturdy bilateral financial ties, bolster vitality safety cooperation and methods to make sure a safe Indo-Pacific area.
Deputy Secretary of the Treasury Wally Adeyemo will journey to Mumbai from August 24-25 and New Delhi on August 26 for conferences and occasions, the treasury mentioned in an announcement on Friday.
During his journey, Adeyemo will reaffirm and strengthen the US-India relationship and America’s shared dedication to a safe and affluent Indo-Pacific, together with by underscoring the 2 international locations’ deep financial, safety, and cultural ties, the assertion mentioned.
In India, Adeyemo will give attention to the sturdy US-India bilateral financial relationship, spotlight the in depth funding and commerce flows between the 2 international locations, and focus on methods to deepen them, together with by means of constructing extra resilient provide chains with trusted companions like India, in addition to by means of initiatives just like the Indo-Pacific Economic Framework that India joined as a founding member in May, it mentioned.
In conferences with counterparts, Adeyemo may even focus on key shared priorities akin to bolstering vitality safety, addressing meals insecurity globally, and combating illicit monetary flows, mentioned the treasury as India is about to guide the G20 grouping in 2023.
The US and European nations have imposed heavy sanctions on Russia since Moscow despatched troops into Ukraine on February 24.
India has raised oil imports from Russia after the Ukraine warfare regardless of criticism from the West and continues to have interaction with Moscow for enterprise.
In May, Russia overtook Saudi Arabia to turn into India’s second-biggest provider of oil behind Iraq as refiners snapped up Russian crude accessible at a deep low cost following the warfare in Ukraine.
Indian refiners purchased about 25 million barrels of Russian oil in May.
External Affairs Minister S Jaishankar this week defended India’s import of discounted Russian oil, saying the federal government had the ethical obligation to make sure that the individuals of India obtained one of the best deal amidst unreasonably excessive oil costs.
In Mumbai on August 24 and 25, Deputy Secretary Adeyemo will meet with senior authorities counterparts in addition to executives from main Indian companies – together with from the monetary providers and vitality sectors.
Adeyemo may even tour IIT Mumbai’s Society for Innovation and Entrepreneurship start-up incubator, the place he’ll meet with college students and entrepreneurs and ship temporary remarks on strengthening financial ties between the US and India, mentioned the division of treasury.
In New Delhi on August 26, Deputy Secretary Adeyemo will meet senior authorities counterparts, the assertion mentioned. Following conferences in New Delhi, Adeyemo will return to the United States
