Nirmala Sitharaman meets US Treasury Deputy Secretary

Union Finance Minister Nirmala Sitharaman on Friday met the US Deputy Secretary of the Treasury Wally Adeyemo and discussed India's G20 Presidency in 2023 as well as exchanged views on global economic issues.

Union Finance Minister Nirmala Sitharaman on Friday met the US Deputy Secretary of the Treasury Wally Adeyemo and discussed India's G20 Presidency in 2023 as well as exchanged views on global economic issues. Taking to Twitter, Nirmala Sitharaman said that both sides also discussed areas of cooperation for continued and enhanced India-USA partnership.

"Union Finance Minister Smt. @nsitharaman met Mr @wallyadeyemo, Deputy Treasury Secretary, USA, in New Delhi, today. The two sides exchanged views on global economic and financial sector issues," Finance Minister said. "FM Smt. @nsitharaman and Mr @wallyadeyemo discussed India's G20 Presidency in 2023, as well as areas of cooperation for continued and enhanced India-USA partnership," she added.

Notably, India will assume the presidency of G20 in September 2023. Earlier, the US Deputy Secretary of the Treasury met with private sector representatives and the Reserve Bank of India in Mumbai. After the meeting, he reaffirmed the deep economic ties between the United States and India and highlighted opportunities for working together to address shared global challenges like high and volatile energy prices.

Adeyemo is currently on a key visit to India to discuss shared priorities on energy security, global food insecurity and combatting illicit financial flows. "On August 24 and 25, Deputy Secretary of the Treasury Wally Adeyemo travelled to Mumbai, India to meet with private sector representatives and the Reserve Bank of India. In Mumbai, he reaffirmed the deep economic ties between the United States and India and highlighted opportunities for working together to address shared global challenges like high and volatile energy prices," the US Department of the Treasury said in a statement.

In Mumbai on August 24, Deputy Secretary Adeyemo visited IIT Bombay where he met with students and entrepreneurs at the Society for Innovation and Entrepreneurship startup incubator and delivered remarks on the U.S.-India economic relationship. The Treasury official's visit comes amid the Ukraine conflict.

US State Department spokesperson Ned Price last week said that it will take a long time for countries who have historic ties with Moscow to reorient their foreign policy. "We have seen countries around the world speak clearly, including with their votes in the UN General Assembly, against Russia's aggression in Ukraine. But we also recognize...that this is not flipping a light switch," Price said during a press briefing, in response to a question on US "failure" to isolate Russia.

"This is something that especially for countries that have historical relationships with Russia, relationships that, as is the case with India, extend back decades, it is going to be a long-term proposition to reorient foreign policy away from Russia," he added. India continues to engage with Russia on a number of issues including India's energy security despite mounting sanctions on Moscow amid the war in Ukraine. (ANI)

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