US Treasury Secretary Janet Yellen says she wants to support the supply chain through partnerships.
Why is this important?
Trade between India and the US is expected to reach USD 150 billion in 2021. The US wants to maintain these trade relations well.In the message: The United States will invest $200 million over four years in the Partnership for Global Infrastructure and Investment (PGII).
- Yellen was speaking at a meeting of finance ministers and central bank governors in Bengaluru. This is in the context of the G20 hosted by India this year.
- The G20 is a group of countries dealing with key economic challenges such as financial stability, climate change and sustainable development.
- Yellen cited as an example of mutual interests between the two countries Apple and Google expanding their phone production in India.
Associate Belt and Road Try
- “I’m excited to look to the future and strengthen our ties in the technology industry,” Yellen said. “A in AmericafriendshipAn approach that strengthens the resilience of our supply chain. We do this by strengthening integration with our trusted trading partners.
- “We rely on each other every day: while many American companies use Infosys to work, we Indians use Whatsapp to communicate.”
- PGII is an initiative of the G7, a group of seven industrialized nations, to support infrastructure projects in developing countries. It is the western part of the Chinese Belt and Road Initiative.
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