“India plays an integral role in boosting supply chain resilience through friendshoring”: US Treasury Secretary Janet Yellen
Jul 16, 2023
Gandhinagar (Gujrat)[India], July 16 : Janet Yellen on Sunday highlighted India's integral role in boosting supply chain resilience through friendshoring.
In a press conference in Gandhinagar (Gujrat), she expressed gratitude to Finance Minister Nirmala Sitharaman and discussed the agenda for global economic growth.
US Treasury Secretary Janet Yellen praised India's significance as an indispensable partner in the strategy of "friendshoring" to bolster supply chain resilience.
“Friendshoring is an important foundation of our approach to increasing resilience of our supply chains, and we see India as an indispensable partner in that and I hope to use this trip to deepen what is already a significant relationship with respect to friendshoring that the US and India have," said Yellen.
Yellen emphasized the importance of deepening the already substantial relationship between the United States and India in the context of friendshoring, acknowledging India's pivotal role, recognising the country as a valuable partner in achieving resilient and robust supply chains.
Secretary Yellen expressed her appreciation to Finance Minister Nirmala Sitharaman and the Indian delegation for hosting the G20 ministerial meeting.
She highlighted the upcoming Leaders' Summit in September as an opportunity to assess the progress made thus far and to intensify efforts in strengthening the global economy, supporting emerging and developing economies, and addressing global challenges.
The G20 ministerial meeting provides a platform for world leaders to come together and collaborate on economic and financial matters of global significance.
Secretary Yellen's gratitude towards India for hosting this event underscores the importance of international cooperation in addressing the pressing economic issues faced by nations worldwide.
Janet Yellen aims to foster an even stronger bond between the United States and India, not only in the realm of Friend shoring but also in broader areas of economic cooperation.
