‘India an indispensable partner for US policy of friend-shoring’: Treasury Secy Janet Yellen ahead of G20 summit

News Snapshot:

Just a week after her visit to China, US Treasury Secretary Janet Yellen, who is in Gujarat to attend the G20 summit, said Sunday that America sees India as an “indispensable partner” with regard to its policy of “friend-shoring”. While addressing reporters ahead of her participation in the G20 summit, Yellen said, “Derisking and friend-shoring are important priorities for the United States and it is something that we are promoting here in India”. Friend-shoring is a policy of encouraging companies to shift manufacturing away from authoritarian states and towards allies. While addressing reporters ahead of her participation in the G20...