The United States Treasury Secretary Janet Yellen on Friday has stated that the US and India are natural allies who can demonstrate to the entire world how democracies can provide for their inhabitants.
Yellen claimed that both the global economy and the concept of democracy were at a turning point during her speech.
The speech was meant to showcase the Biden administration’s ambition to strengthen ties with India on the economic front
Yellen stated that the US and India are natural allies, in the words of a former Indian prime minister and both countries waged similar fights for independence to attain freedom and dignity.
“People around the world are looking to us and asking: can democracies meet the economic needs of their citizens? Can they stand up to bullies and cooperate on the most intractable global problems? And as two largest democracies, we can answer the skeptics by delivering for our people,” she said.
She went on to say that I am confident about our success.
Yellen added that India’s G20 year is a chance to accelerate global coordination on debt restructuring.
She also stated that economic challenges from the Ukraine conflict were drawing India and United States closer.
