The 9th Ministerial meeting of the India-US Economic and Financial Partnership was held here today. The Indian delegation was led by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman and the USA delegation was led by Dr. Janet Yellen, Treasury Secretary.

The Indian delegation included Governor RBI; Secretary, Economic Affairs, Chief Economic Advisor (GoI) and other representatives from Ministry of Finance, Ministry of External Affairs and Reserve Bank of India. The US delegation included Fed Chairman, Mr Jerome Powell (through VC); Counselor Mr Brent Neiman (International Affairs); Counselor Mr Jay Shambaugh (International Affairs); Deputy Assistant Secretary for Asia Mr Robert Kaproth; Deputy Office Director for Sustainable Infrastructure Ms Amy Zuckerman; Treasury Attaché to India Mr Bill Block and other representatives from US.

The 9^th India-US EFP meeting covered the discussion on various economic issues including global macroeconomic outlook, climate finance, supply chain resilience, international taxation, anti-money laundering, combating terrorism financing, India’s upcoming G20 presidency, and MDB’s reforms

The meeting concluded with adoption of Joint Statement by the Union Finance Minister and US Treasury Secretary.

At the sidelines of EFP meeting, a presentation on India digital innovation was made to the Secretary of the Treasury to explore possibility of collaboration between India and USA for furthering the digital progress that is human-centric, solves societal problems, unleashes innovations across ecosystem, and empowers individuals and small business. A business event was also held which was attended by eminent economists and business leaders across sectors from the industry.

Enclosure:  

Joint Statement of 9th India-US Economic and Financial Partnership meeting

International tax and anti money laundering cooperation strengthens joint action on climate finance and multilateral development bank reform. Enhanced bilateral cooperation prioritized international taxation coordination, multilateral anti money laundering and counter terrorism financing measures, and reforms to multilateral development banks. The joint statement also advanced collaboration on climate finance, sustainable infrastructure, and explored digital innovation partnerships to support human centric solutions and small business empowerment, indicating intent to operationalize priorities through continued dialogue and targeted initiatives.