US thumbs up for $5 trillion economy goal: India will meet target much faster than expected

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Published: November 1, 2019 7:19 PM

US Treasury Secretary Steven Mnuchin on Friday said that India will meet its $5 trillion economy goal faster than expected.

India fight against black money, Indian, FTA, Switzerland FTA, AEOI, Swiss bank account, black money in Swiss accounts, PM Modi against BlackmoneyIn the global trade war, Steven Mnuchin said that the US is continuing to make progress on the trade deal with China.

US Treasury Secretary Steven Mnuchin on Friday said that India will meet its $5 trillion economy goal faster than expected.  Adding he said that the US is also focussing on the structural changes made by the Indian government. India has announced a slew of economic reforms in recent weeks to boost the slowing economy. On Iran issue, he said that the US is working with allies to ensure there is enough oil and the sanctions don’t impact other nations, he said at a joint press conference after the conclusion of the 7th edition of India-US Economic and Financial Partnership Dialogue in New Delhi. In the global trade war, Steven Mnuchin said that the US is continuing to make progress on the trade deal with China. Speaking at the event, Finance Minister Nirmala Sitharman said that a wide range of discussions over a host of issues happened in the meeting.

Other members of the US delegation include undersecretary for international affairs Brent McIntosh and assistant secretary for terrorist financing and financial crimes Marshall Billingslea. Mnuchin, accompanied by Donald Trump’s senior advisor and son-in-law Jared Kushner, began a regional tour from Oct. 25 through Saudi Arabia, Israel, United Arab Emirates, India, and Qatar. America is seeking India’s support against Iran over its nuclear programme and its ties to militant networks, global news agency Reuters reported.

Nirmala Sitharaman in October this year said that the negotiations between India and the United States on a trade deal are going on in “full speed” and expressed hope that it will conclude soon. The ongoing trade deal negotiations briefly came up for discussion during a pull-aside between Sitharaman and US Treasury Secretary Steven Mnuchin at the IMF headquarters.

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