FRIENDSHORING IS AN important foundation for global supply chain resilience, in which India is an indispensable partner, US treasury secretary Janet Yellen said on Sunday, adding that American companies are investing in manufacturing in India for exports to the US.
"I will use this trip to deepen what was already a very significant relationship with respect to friendshoring with the United States," Yellen, said here at the meeting of G20 meeting of Finance Ministers and Central Bank Governors.
The US is India's largest export market. Bilateral trade between the two countries exceeded $191 billion in 2022, nearly double of that in 2014.
"The behaviour by the private sector is really an important part of friendshoring. You're seeing continued advancements of investments in India by private firms that are seeking to produce and export to the US," Yellen said.
Bu hikaye Financial Express Mumbai dergisinin July 17, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin July 17, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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