US Treasury Secretary Janet L. Yellen stated on Friday that the US is eager to strengthen ties with India at the G20 summit and increase cooperation in support of the program for global agriculture and food security.
Speaking at a press briefing, she said, “We hope to move forward our efforts such as supporting the global agriculture and food security program. Continuing to advance the US-India relationship will be a priority this week. We highly value our bilateral relationship with India. We also welcomed PM Modi to the US in June. The United States is the home to the largest Indian diaspora outside Asia and is India’s largest export market.”
The G20 has succeeded on many significant issues during India’s presidency, according to the US Secretary of State, who also affirmed that India’s leadership in the group continues to be very effective. The G20 has been successful, particularly under India’s leadership, according to Yellen. Our objectives for the G20 align with India’s. The entire multilateral development system has undergone significant change as a result of the significant challenges we overcame. Yellen also addressed the World Bank’s worries about high interest rates and sluggish global growth, highlighting how Russia’s war on Ukraine has driven up the cost of food and energy.
She said, “Certainly, we are aware of the risk to global growth. The most negative influence is Russia’s war on Ukraine which has escalated energy and food prices. At many G20 meetings have stated repeatedly, that the most important thing we could do for global growth is for Russia to end its brutal war on Ukraine. Recently the IMF has somewhat improved its economic projections.”
She emphasized that the G20 is a key platform for tackling significant challenges when asked about Russian President Vladimir Putin and Chinese President Xi Jinping’s absence from the G20 Summit in Delhi. She continued, “It is crucial to emphasize that the G20 is a key component of the solution to the world’s problems. We see it as a world-class organization that is tackling significant issues that the global economy, and particularly the global South, are facing.