Yellen is visiting India yet again to promote closer ties and tackle global economic problems
CTV
On the heels of a trip to Beijing, U.S. Treasury Secretary Janet Yellen is back in India for the third time in nine months, this time to meet finance ministers from the Group of 20 nations about global economic challenges like the increased threat of debt defaults facing low-income countries.
On the heels of a trip to Beijing, U.S. Treasury Secretary Janet Yellen is back in India for the third time in nine months, this time to meet finance ministers from the Group of 20 nations about global economic challenges like the increased threat of debt defaults facing low-income countries.
Yellen will use her time in Gandhinagar to try to foster warming relations between the U.S. and India. She also plans a stop in Hanoi, Vietnam, to address supply chain reliability, clean energy transition and other matters of economic resilience.
Yellen's goals for her time in India: press for debt restructuring in developing countries in economic distress, push to modernize global development banks to make them more climate-focused and deepen the ever-growing U.S.-India relationship.
Yellen's frequent stops in the country signal the importance of that relationship at a time of of tensions with China.
India's longstanding relationship with Russia also will loom as the Kremlin's invasion of Ukraine continues despite U.S. and allied countries' efforts to sanction and economically bludgeon Russia's economy. India has not taken part in the efforts to punish Russia and maintains energy trade with that country despite a Group of Seven agreed-upon price cap on Russian oil, which has seen some success in slowing Russia's economy.
Still, the U.S. increasingly relies on India and has courted its leaders.
President Joe Biden hosted a White House state visit honoring Indian Prime Minister Narendra Modi in June, designed to highlight and foster ties. The two leaders pronounced the U.S.-India relationship never stronger and rolled out new business deals between the nations.
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