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A senior U.S. Treasury Department official will travel to India next week for talks with senior Indian officials to strengthen strong bilateral economic ties, increase cooperation on energy security and ways to secure the Indo-Pacific region.
Undersecretary of the Treasury Wally Adejemo will travel to Mumbai From August 24th to 25th and new Delhi The Treasury Department said in a statement on Friday that the meeting and event will take place on Aug. 26.
During the trip, Adejemo will reaffirm and strengthen the U.S.-India relationship and the U.S. shared commitment to a secure and prosperous Indo-Pacific region, including emphasizing the deep economic, security and cultural ties between the two countries, the statement said.
In India, Adeyemo will focus on a strong U.S.-India bilateral economic relationship, highlight the broad investment and trade flows between the two countries, and discuss ways to deepen them, including building more resilient supply chains with trusted partners like India, As well as through initiatives such as the Indo-Pacific Economic Framework, in which India is a founding member, it said.
In meeting with his peers, Adejemo will also discuss key shared priorities such as enhancing energy security, tackling global food insecurity and combating illicit financial flows as India leads the G20 group in 2023, India’s finance ministry said. .
U.S. and European countries slap tough sanctions on Russia since Moscow sent troops into Russia Ukraine February 24.
Despite criticism from the West, India increased oil imports from Russia after the Ukraine war and continued to do business with Moscow.
In May, Russia overtook Saudi Arabia to become India’s second-biggest oil supplier after Iraq, as refiners snapped up Russian crude at deep discounts after the Ukraine war.
Indian refiners bought about 25 million barrels of Russian oil in May.
Foreign Minister S Jaishankar this week defended India’s imports of discounted Russian oil, saying the government has a moral duty to ensure the Indian people get the best deal at unreasonably high oil prices.
On August 24-25, Deputy Secretary of State Adeyemo will meet senior government officials and executives from India’s leading companies, including those in the financial services and energy industries, in Mumbai.
Adeyemo will also visit the start-up incubator of IIT Mumbai Innovation and Entrepreneurship Association, where he will meet students and entrepreneurs and give a brief speech on strengthening economic ties between the US and India, the finance ministry said.
On August 26, Deputy Secretary of State Adeyemo will meet senior government officials in New Delhi, the statement said.Adejemo to return to US after meeting in New Delhi
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