Deputy Finance Minister Wally Adeyemo will travel to Mumbai for meetings and events on August 24-25 and New Delhi on August 26, the Finance Ministry said in a statement on Friday.
During his trip, Adeyemo will reaffirm and strengthen US-India relations and America’s shared commitment to a safe and prosperous Indo-Pacific, including by emphasizing the two countries’ deep economic, security and cultural ties, the statement said.
In India, Adeyemo will focus on the strong bilateral economic ties between the US and India, highlighting the extensive investment and trade flows between the two countries and discussing ways to deepen them, including by building more resilient supply chains with trusted partners like India B. through initiatives such as the Indo-Pacific Economic Framework, which India joined as a founding member in May, it said.
At meetings with counterparts, Adeyemo will also discuss key shared priorities such as strengthening energy security, tackling food insecurity globally and tackling illicit financial flows, the finance ministry said, as India is set to lead the G20 grouping in 2023.
Since Moscow deployed troops to Ukraine on February 24, the US and Europe have imposed heavy sanctions on Russia.
Despite criticism from the West, India increased oil imports from Russia after the Ukraine war and continues to do business with Moscow.
In May, Russia overtook Saudi Arabia to become India’s second largest oil supplier behind Iraq when refiners bought Russian crude at a deep discount after the war in Ukraine.
Indian refiners bought about 25 million barrels of Russian oil in May.
Foreign Minister S Jaishankar this week defended India’s import of discounted Russian oil, saying the government has a moral duty to ensure the people of India get the best deal in the face of unreasonably high oil prices.
On August 24-25, Deputy Foreign Minister Adeyemo will meet senior government colleagues and executives from leading Indian companies, including financial services and energy sectors, in Mumbai.
Adeyemo will also visit the start-up incubator of the IIT Mumbai Society for Innovation and Entrepreneurship, where he will meet with students and entrepreneurs and make brief remarks on strengthening U.S.-India economic ties, the Finance Ministry said.
Deputy Foreign Minister Adeyemo will meet senior government colleagues in New Delhi on August 26, the statement said.
After meetings in New Delhi, Adeyemo will return to the United States.
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