India, US to discuss global economy, climate finance, other issues of mutual interest on Friday

Finance Minister Nirmala Sitharaman and visiting US Treasury Secretary Janet Yellen will discuss a host of issues of mutual interest, including climate finance on Friday here.

Both leaders will lead the 9th meeting of the India-US Economic Financial Partnership. Yellen is on a day-long visit to India on November 11. ''During the 9th India-US EFP meeting, both sides will discuss issues of mutual interest including Climate Finance, multilateral issues, India-US cooperation at G20 under India's Presidency, taxation, supply chain resilience, global economy and macroeconomic outlook,'' the Finance Ministry said in a tweet.

''On the sidelines of the 9th India-US EFP meeting, @nsitharaman and @SecYellen will also participate in a Roundtable interaction on India-US Business and Economic Opportunities with top Business Leaders and eminent economists,'' another tweet said.

In an interview with PTI, Yellen had said India will ''benefit'' from the proposed price cap on oil arguing that the United States does not want Russia to ''profit unduly'' from the war by enjoying prices that are essentially very high due to its Ukrainian invasion.

Developing countries like India and China have been increasingly buying discounted Russian oil as global energy prices remain high and Western nations seek to scale down their reliance on Russian energy. ''We want Russian oil to continue to supply global markets; stay on the market. But we want to make sure that Russia doesn't profit unduly from the war by enjoying prices that are essentially very high due to the war,'' Yellen had said earlier this week.