Amid this is my first trip to India as Treasury secretary?

Janet Yellen, US Treasury secretary, praised India’s growth in uncertain times and called India a ‘unique friend to America’ during Friday’s first visit to India. Yellen’s visit is scheduled as India will assume the presidency of the grouping’s 20 largest economies starting December 1. This comes after the G20 Summit in Bali hosted by Indonesia on November 15-16.

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“This is the first time I have been to India as Treasury Secretary. It’s a great time to be in India as India celebrates 75 years of independence and prepares for the G20 presidency. Janet Yellen said that, “India is one of America’s indispensable partners,” President Biden stated. This was according to news agency ANI. Yellen stated, “Bilateral trade between India and America reached an all time high last year & it is expected to grow further.”

The Ukraine War was a result of Putin’s barbarism. She added that “It’s no surprise” that India is one the fastest-growing major economies. We are currently dealing with the lingering pandemic, spillovers from Putin’s barbaric War in Ukraine and macroeconomic tightening.” This implies that the economic challenges of conflict and supply strains were bringing India and the United States closer together.

She had tweeted earlier that the “US relationship with India is strong” and was continuing to deepen through trade and critical economic ties.

Before I join @POTUS in Indonesia at the G20 Summit, I’m in India to participate the U.S.–India Economic and Financial Partnership. The U.S. relationship to India is strong, and it continues to strengthen through trade, critical economic connections, and shared value.

— Secretary Janet Yellen, @SecYellen November 11, 2022

Yellen’s comments are made at a moment when India has stated that it will continue to buy Russian crude oil at a discount because this benefits India’s economic growth, despite American and Western allies efforts to impose a price limit on Russian oil exports.

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