Throughout this month, USISPF’s financial sector delegation undertook a series of high-level engagements across India, culminating in a robust dialogue on enhancing U.S.-India economic and financial cooperation. The delegation visited key financial and regulatory hubs in Hyderabad, Mumbai, and New Delhi, where they engaged with top Indian policymakers, regulators, and thought leaders.
Key Activities Under Financial Sector Delegation:
- Strategic Meetings with Indian Regulators and Policymakers:
- Productive discussions were held with V Anantha Nageswaran, Chief Economic Advisor (CEA) to the Government of India, and Debasish Panda, Chairman of the Insurance Regulatory and Development Authority of India (IRDAI). These meetings focused on enhancing the regulatory landscape and fostering innovation within the financial services sector.
- The delegation also engaged with Madhabi Puri Buch, Chair of the Securities and Exchange Board of India (SEBI), and the Deputy Governors of the Reserve Bank of India (RBI), M Rajeshwar Rao, and T Rabi Sankar. Discussions revolved around monetary policy, financial stability, and the evolving role of digital finance in India’s economy.
- A meeting with Dr. Arvind Virmani, Member of NITI Aayog, provided insights into India’s economic strategies, while Ashutosh Jindal, Additional Secretary, Cabinet Secretariat, and the Incoming Minister (Economic) at the Embassy of India in Washington, DC, highlighted bilateral economic priorities.
- Engagement with the U.S. Embassy in India:
- The delegation had productive breakfast meetings with Graham Mayer, Minister-Counselor for Political Affairs, and Bill Block, Treasury Attaché at the U.S. Embassy in India. These sessions were instrumental in discussing the U.S. perspective on India’s economic trajectory and opportunities for collaboration.
- A luncheon meeting with Frank Talluto, Chief of the Political and Economic Section, and Siba Prasada Tripathy, Economic Affairs Specialist at the U.S. Consulate General in Hyderabad, focused on regional economic developments and the role of U.S. businesses in India’s growth.
- Discussion with Honorable Minister Ashwini Vaishnaw:
- A detailed conversation with Honorable Minister Ashwini Vaishnaw, Minister for Railways, Information and Broadcasting, Electronics & Information Technology, provided valuable insights into the Indian government’s vision for infrastructure development and the integration of technology in public services.
- Focus on Economic Outlook and Bilateral Relations:
- The delegation conducted in-depth discussions on India’s economic outlook under the current government. Key topics included deepening U.S.-India economic and financial ties, advancing digital trade, investing in India’s digital economy, and increasing foreign direct investments from American companies as India advances towards its $5 trillion economy goal.
The delegation’s visit was marked by significant progress in reinforcing the financial and economic relationship between the United States and India. The discussions laid a strong foundation for future collaborations, especially in areas of digital trade, financial innovation, and regulatory cooperation.
