Finance Minister Nirmala Sitharaman said on Tuesday that the US-India relationship is at its best and would help to reinforce the global order in these difficult times.
This is one of those periods when these two major democracies have found their place and are at peace working together, she said in a taped video discussion provided by the research group Atlantic Council.
She added that the US-India relationship is in extremely excellent shape, which would only enhance the global order.
She cited the recent ‘two plus two’ communication between the two sides, saying that these are inconceivable occurrences that have occurred in the recent past when the defence and foreign ministries of both nations convene and discuss a variety of subjects.
She believes that this is one of those periods when India and the United States, the two major democracies, have found their place and are at ease working together.
She stated that the new Indo Pacific Economic Framework (IPEF) is a good idea that has come from the United States and that India is looking at it and would take a thoughtful approach.
It is a really novel approach to connecting with nations in that area, including Vietnam, the Philippines, Malaysia, Thailand, and India, she said, adding that it is built on four pillars.
The planned IPEF has four pillars: fair and resilient trade (which includes seven subtopics such as labour, environmental, and digital norms); supply chain resilience; infrastructure, renewable energy, and decarbonization; and tax and anti-corruption.
In terms of cryptocurrency legislation, Sitharaman stated that it would take some time because the government is attempting to draught a protocol based on broad discussions.