Deepening economic partnership, India and US discuss measures to combat money laundering, terror financing

New Delhi, November 2: Deepening the economic partnership between the two countries, India and the US have discussed a wide range of issues including measures to combat money laundering and terror financing. In a joint statement after the 7th India-US Economic and Financial Partnership meeting in New Delhi, the two countries noted that they have developed a historic approach to tackling money laundering and combating terror financing. The Indian side at the meeting was led by Finance Minister Nirmala Sitharaman, while the US delegation was led by the Treasury Secretary Steven Mnuchin.

 

After the discussion, Minister Sitharaman said that during the meeting both sides took stock of efforts undertaken to further improve mutual cooperation on a wide range of multilateral issues. She said, both sides not only discussed policies to stimulate growth but also deliberate on the significant steps were taken by the two countries to strengthen the financial sector. Sitharaman said, they also discussed investment in infrastructure and the deepening of financial relations.

 

India and the United States discussed policies to stimulate economic growth and noted the significant steps India has taken to strengthen the financial sector, including Public Sector Bank recapitalization and plan to merge some of the state-owned banks. Both sides also discussed capital flows, investment promotion related issues, and the external economic environment.