Mumbai: A top US Treasury official has 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.
US Deputy Secretary of the Treasury Wally Adeyemo made these remarks after he met with private sector representatives and the Reserve Bank of India in Mumbai. 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.
During the remarks, he emphasized the mutual benefits to both countries of deepening economic ties.
While in Mumbai, the Deputy Secretary met with Reserve Bank of India Governor Shaktikanta Das to discuss global economic developments and the US-India Economic and Financial Partnership.
Deputy Secretary Adeyemo also met with private sector leaders and participated in a roundtable event with the US-India Business Council and Indian financial services executives.
During those meetings, the Deputy Secretary discussed growing trade and investment between our countries. He also highlighted the importance of reducing energy prices for consumers and businesses in both India and the United States.
Following his events in Mumbai, Deputy Secretary Adeyemo will travel to New Delhi ahead of meetings on August 26 with government counterparts.
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.
