US Treasury Secretary Yellen: India is an indispensable partner

US Treasury Secretary Janet Yellen has stated that her country sees India as an “indispensable partner.” According to Indianexpress, Yellen, who turned to India after her visit to China last week, traveled to the state of Gujarat to attend the G20 Treasury-Finance Ministers meeting. Speaking to members of the press before the meeting, Yellen said that the US sees India as an “indispensable partner” within the scope of the “friendly-shoring” policy, which is defined as building supply chains through countries with which it has close relations. Noting that the private sector plays an important role in the “friendly-shoring” policy, Yellen drew attention to the increase in investments by companies that “see India as a place to produce and export to the US.” Yellen said, “The US is India’s largest export market and our bilateral trade reached an all-time high last year and we want to see this grow even more.” Treasury Secretary Yellen also emphasized that the fight to prevent Russia from violating international sanctions imposed on it due to the Ukraine War constitutes "one of her key goals" this year. Yellen, who said that she saw her visit to China last week as a step to "establish stronger and more productive communication channels and to establish stronger relations," said that as the world's two largest economies, China and the US should cooperate on common concerns. Yellen is expected to visit Vietnam after India.