The Indian delegation was led by chief economic adviser Dr. V Anantha Nageswaran and the US delegation was led by assistant secretary for international finance Brent Neiman. Representatives from the Reserve Bank of India and the US Federal Reserve in Washington DC participated virtually, according to a joint statement by both countries.
Indian and US officials discussed a range of economic and financial issues that included the economic outlook in both countries, Indian and US priorities in addressing global debt challenges, joint efforts to advance the clean energy transition and mobilise climate finance, progress on creating innovative investment platforms to accelerate deployment of renewable energy projects, and recent developments in the area of cross-border payments that included discussion about the G20 Cross-Border Payments Roadmap, India’s United Payments Interface (UPI) payments platform, and the Federal Reserve’s implementation of the FedNow payments system.
Both sides agreed to continue their collaboration and will build on successful meetings that took place between Prime Minister Modi and President Biden during the Prime Minister’s visit to the US in June 2023.
ALCHEMPro News Desk (NB)
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