India-US to discuss several key issues of mutual interest today to bolster bilateral economic ties

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India-US Economic Financial Partnership: Finance Minister Nirmala Sitharaman and visiting US Treasury Secretary Janet Yellen are expected to discuss several key issues of mutual interest, ranging from the global economy, climate finance and other related issues on Friday.

The ninth meeting of the India-US Economic Financial Partnership will be presided over by both leaders as Yellen is on a day-long visit to India on November 11. 

"During the 9th India-US EFP meeting, both sides will discuss issues of mutual interest including Climate Finance, multilateral issues, India-US cooperation at G20 under India's Presidency, taxation, supply chain resilience, global economy and macroeconomic outlook," the Finance Ministry said in a tweet.

"On the sidelines of the 9th India-US EFP meeting, @nsitharaman and @SecYellen will also participate in a Roundtable interaction on India-US Business and Economic Opportunities with top Business Leaders and eminent economists," another tweet added. 

The United States does not want Russia to "profit unduly" from the war by taking advantage of prices that are fundamentally very high owing to its invasion of Ukraine, according to Yellen, who claimed that India will "benefit" from the proposed price restriction on oil.

As global energy costs stay high and Western nations try to reduce their dependency on Russian energy, developing nations like India and China have been buying more and more heavily discounted Russian oil.

"We want Russian oil to continue to supply global markets; stay on the market. But we want to make sure that Russia doesn't profit unduly from the war by enjoying prices that are essentially very high due to the war," Yellen had remarked earlier this week.

(With PTI inputs)

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