Yellen Strengthens US-India Ties

US Treasury Secretary Janet Yellen's visited India following her recent trip to China, indicating the importance of the US-India relationship. While Russia's invasion of Ukraine and the global efforts to sanction Russia have strained international relations, India has maintained its energy trade with Russia and refrained from participating in punitive measures. Yellen emphasized the importance of ending the conflict in Ukraine for the global economy and stated that the US would continue to restrict Russia's access to military equipment and technologies. The US sees India as a crucial partner in its efforts to strengthen supply chain resilience and views it as a favorable destination for production and exports. Yellen also discussed the impact of China's slowing growth on other countries and expressed a desire to address foreign investment concerns. The visit holds significance for India, as officials seek to understand the outcomes of Yellen's meetings with Chinese counterparts and gauge the seriousness of the US in shifting its sourcing activity from China to India.