HomeLatestUS requires bolstering provide chain resiliency with trusted companions like India

US requires bolstering provide chain resiliency with trusted companions like India

New Delhi [India], August 27 (ANI): US Deputy Treasury Secretary Wally Adeyemo has referred to as for the bolstering of provide chain resiliency between “trusted partners” just like the United States and India to keep up a free and open Indo-Pacific.

This message was conveyed throughout Adeyemo’s go to to India which noticed discussions of important shared priorities like bolstering vitality safety and addressing international meals insecurity.

On Friday, the US Treasury Secretary met with a number of Indian authorities officers in New Delhi together with Finance Minister Nirmala Sitharaman.

“During the Deputy Secretary’s meetings in New Delhi, he (Wally Adeyemo) continued to underscore the importance of deepening the United States and India’s already strong relationship, including through platforms like the Quad and the Indo-Pacific Economic Framework,” US Treasury Department mentioned in a press release.

Both United States and India have acknowledged that they’ve shared pursuits in selling international safety, stability, and financial prosperity by means of commerce, funding, and connectivity.

Prime Minister Narendra Modi and US President Joe Biden have held two in-person bilateral conferences throughout which they reaffirmed their dedication to a resilient, rules-based worldwide order that safeguards sovereignty and territorial integrity.

Both the leaders have additionally participated in a number of engagements of the Quad Leaders mechanism with Japan and Australia. The United States helps India’s emergence as a number one international energy and an important associate in efforts to safeguard the Indo-Pacific as a area of peace, stability, and rising prosperity.

“Deputy Secretary Adeyemo stressed that we (US and India) can maintain a free and open Indo-Pacific that delivers greater prosperity for our citizens through those efforts, including through steps to bolster supply chain resiliency between trusted partners like the United States and India,” the assertion added.

The Treasury Department assertion mentioned the US Deputy Secretary additionally mentioned ways in which the United States and India might work collectively to deal with shared international challenges like meals insecurity and excessive vitality costs. “The Deputy Secretary raised that ending Russia’s invasion of Ukraine was critical to addressing these issues,” the assertion mentioned.

The Deputy Secretary additionally shared with counterparts the United States’ views on methods to place downward stress on vitality costs for shoppers and companies in India, the United States, and globally.

Deputy Secretary Adeyemo reiterated the significance of well-supplied international vitality markets, at the same time as we work along with companions like India to develop entry to sources of renewable vitality that may scale back our dependence on fossil fuels over time.

In 2021, total US-India bilateral commerce in items and providers reached a report USD 157 billion, based on US State Department.

The United States is India’s largest buying and selling associate and most vital export market. Many US corporations view India as a important market and have expanded their operations there. Likewise, Indian corporations search to extend their presence in US markets. (ANI)