Indian economic reform is seen as ‘positive steps’ by Biden Administration: Sitharaman

WASHINGTON: UNI Finance Minister Nirmala Sitharaman said Wednesday that India’s strategic economic reform was greeted by administration and Biden leaders from the corporate sector in the US.
“The reforms we have done, especially the steps taken for retrospective tax withdrawal have been mentioned by the United States administration as a very positive step,” said Minister.
Sitharaman is currently in the US.
He attended the annual meeting of the International Monetary Fund (IMF) and the World Bank.
On the sidelines of the meeting, Sitharaman was also involved with more than 25 bilateral meetings including the main official Biden administration and a number of top American CEOs.
“The business with which we have interacted also welcomed the decision,” Sitharaman responded to Ani’s question about economic reform taken by India and the impact was seen in the US.
“Many of them thought it was thick and even though it took time to come.
We also explained that they were legal.
You know compulsion before we have to wait because it is some litigation, which is happening and has to come to the logical conclusion.
So we waited and when The logical conclusion was reached, we went to parliament with interesting.
So it was so positively welcomed, “said the United Minister to Ani at the end of Washington’s visit.
Furthermore, when asked by Ani on the media briefing, whether India’s comprehensive trade agreement with the US could come true in the near future, Sitharaman stressed that India and the US had talked about it and the two countries wanted to negotiate and concluded the earliest.
“My special focus is on the investment incentive agreement that still has time until December.
So we have talked about it, the two countries want to negotiate and conclude it earlier.
But, the problem of trading is greater.
It itself is a trade ( The ministry) works with its partners.
So, I have not been deeply involved in it, “he replied.
During US visits during the weeks, Sitharaman had a series of extensive interactions with US administration, policy makers, business community academies and think tanks.
This visit was also the first visit of Sitharaman to the US after a pandemic.
New Delhi saw the visit as very important to advance Indian-US economic partnerships.
Studying the top leadership in the World Bank and the IMF to meet with US colleagues, Sitharaman highlighted the Indian economic recovery.
The most important of them is Indian-US economic and financial partnerships.
The meeting was chaired by Together by Sitharaman and the Secretary of the US treasury Janet Yellen.
Tarajit Singh Sandhu, Indian Ambassador to the US, hosted dinner in honor in India.
The dinner was attended by US officials including the estimation of the Special President in Climate Change John Kerry, World Bank President David Malpass, Administrator of the International Development Agency (USAID) Samantha Murthy.
After concluding the meeting in Boston and Washington, the Union Minister now moved to New York, the last leg of US visit.