Page 3 - Indo-us

India to be one of top three economic powers in next 10-15 years: FM

India has emerged as one of the fastest-growing major economies in the world and is expected to be one of the top three economic powers globally over the next 10-15 years, Finance Minister Nirmala Sitharaman said on Friday. Speaking at the US-India Businesses and Investment Opportunities event here, Sitharaman said, the global economic outlook remains challenging and the Indian economy is not insulated from the impact of global economic developments. However, she said, India has carved out its growth trajectory supported by the above-normal south-west monsoon, public investment, strong corporate balance sheets, upbeat consumer and business confidence and receding threat of the Covid pandemic. "India has emerged as one of the fastest-growing major economies in the world. It has recently surpassed the UK to become the fifth-largest economy in the world and is expected to be one of the top three economic powers globally over the next 10-15 years," she said. Listing out some of the ...

US Department of Treasury removes India from its Currency Monitoring List

The US Department of Treasury on Friday removed India along with Italy, Mexico, Thailand and Vietnam from its Currency Monitoring List. China, Japan, Korea, Germany, Malaysia, Singapore, and Taiwan are the seven economies that are a part of the current monitoring list, the Department of Treasury said in its biannual report to the Congress. The countries that have been removed from the list have met only one out of three criteria for two consecutive reports, it said. China's failure to publish foreign exchange intervention and broader lack of transparency around key features of its exchange rate mechanism makes it an outlier among major economies and warrants Treasury's close monitoring, said the report.

Need high regulatory standard globally to deal with crypto risks: Yellen

US Treasury Secretary Janet Yellen on Friday said there is a need for a high regulatory standard globally to deal with risks related to cryptocurrencies. The United States has made a good deal of progress at least in dealing with the issues of illicit finance in connection with cryptocurrencies, she said here. She was participating in a roundtable interaction on India-US Business & Economic Opportunities with top business leaders and eminent economists from both the countries. "We need a high regulatory standard globally, we need to take steps to reduce the cost of cross-border payments and we are very actively working in the context of financial stability with Financial Action Task Force and multilateral banks like IMF to really address on global basis the risks and some of the benefits from cryptocurrencies," she said. International collaboration is really important among public authorities, private sector and other stakeholders, she added Finance Minister Nirmala Sitharaman has

India looks to strengthen ties with US with greater vigour: FM Sitharaman

India and the US will look forward to strengthening bilateral ties with greater vigour, Finance Minister Nirmala Sitharaman said here on Friday. Addressing the media jointly with US Treasury Secretary Jannet Yellen at the start of the Ninth Indo-US Financial Partnership, Sitharaman said that bilateral talks will impart greater vigour to the long-standing relationship with the US. India, Sitharaman said, "Deeply values its relationship with the United States as a trusted partner. We share a traditionally strong bilateral relationship underpinned with shared values, convergence of interests on wide ranging issues and vibrant people-to-people contact." The substantial and multi-faceted cooperation through the economic and Financial Partnership Forum remains a key cornerstone of the bilateral engagements, the finance minister added. "Our meeting will lend greater vigour to our economic relationship, strengthen business-to-business links, and facilitate coordinated policy stance to addr

Treasury Secretary Yellen to visit India to deepen US-India economic ties

US Secretary of the Treasury Janet Yellen will visit India to participate in the US-India Economic and Financial Partnership on November 11 and discuss how the two countries can work together to deepen their economic ties, according to an official announcement here on Friday. In New Delhi, Yellen will highlight the strength of America's partnership with India, which continues to deepen, the Treasury said in a statement. Yellen will meet with technology sector leaders and visit the Microsoft India Development Centre, where she will deliver remarks on the United States' economic partnership with India, it said. She would also hold a bilateral meeting with Union Finance Minister Nirmala Sitharaman. Following the US-India Economic and Financial Partnership (EFP) dialogue, Yellen will join Sitharaman for a fireside discussion with executives from major Indian companies and American companies operating in India. To conclude the day, Yellen and Sitharaman will sign a joint statement on

Indian-Americans secret weapon for economic growth: Congressman Jim Himes

Indian-Americans are a "secret weapon for economic growth", Congressman Jim Himes said showering praises on the thriving community, which is the highest-earning ethnic group in the US.

US Secretary of State Blinken discusses Ukraine war with EAM Jaishankar

US Secretary of State Antony Blinken held a telephonic conversation with External Affairs Minister S. Jaishankar and discussed the ongoing Ukraine war, counterterrorism and other regional and global issues. Jaishankar thanked Blinken for his "strong and clear message" on counter-terrorism as well as his call for holding those responsible for the 26/11 Mumbai attacks accountable. The two leaders spoke on Saturday. The two discussed regional and global issues, including counterterrorism cooperation and Russia's continuing aggression against Ukraine, Ned Price, spokesperson of the State Department said in a readout of the call on Saturday. "Good to speak to US Secretary of State @SecBlinken. Thanked him for his strong and clear message yesterday on counter-terrorism and 26/11 accountability. Discussed the Ukraine conflict and other regional issues," Jaishankar tweeted on Saturday. Blinken, while addressing an informal session of the UN Security Council's Counter-Terrorism Committee (

India joins US-led Indo-Pacific economic bloc aimed at countering China

On issues such as digital commerce, labour, and environmental standards, India and the US have contrasting views

India central to transition to green and clean energy: US official

Andrew Light said India will decide the global future of energy as well

A vision for US-India economic partnership

Both countries must play the central role in developing the economic framework for a free and open Indo-Pacific

Looking forward to meeting you in Japan on May 24: Biden to Modi

Biden said this in his opening remarks at a virtual meeting with Prime Minister Narendra Modi

Indo-US bilateral defence ties to stay on ambitious course: Pentagon

Bound by shared values and a common vision for a free and open Indo-Pacific region, the United States and India will continue to chart an ambitious course in the bilateral defence partnership

S Jaishankar speaks to US Secretary of State Antony Blinken

In the telephonic talks, Jaishankar and Blinken also deliberated on bilateral ties

US softens stand, but FTA uncertainties far from over: Experts

Some of the experts say that the two countries are trying to iron out thorny issues under the revived

Better co-ordination

US partnership needs a greater understanding of trade-offs

Does India matter?

Yes, it does. Just that Modi's India has to eschew the domestic politics that makes life difficult for its most vital strategic partners in the Quad -all democracies

Modi-Biden bilateral meeting: Seeds sown for stronger friendship, says PM

Modi said this decade will be shaped by talent and people-to-people linkages

US-India flights to take longer after Afghanistan's airspace shuts

AI stops commercial flights; MEA waits for services to resume to begin repatriation

Behind the smiles

Afghanistan's shadow on Indo-US relations

Second ministerial meeting under 'Quad' likely in Tokyo next month

India, the US, Japan and Australia are set to hold a ministerial meeting in Tokyo next month under the framework of the 'Quadrilateral' coalition