October 28, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Sitharaman to meet Yellen on US visit

Finance minister Nirmala Sitharaman will meet US Treasury Secretary Janet Yellen and interact with institutional investors, including BlackRock, KKR and global pension funds, when she visits the US for the G20 ministerial and IMF-World Bank meetings.

The week-long visit which begins on Monday will be Sitharaman’s first overseas official trip after the Covid-19 outbreak. This is also the first time since the viral outbreak that the World Bank and International Monetary Fund are going for in-person annual meetings.

The finance minister will co-chair the US India Economic and Financial Partnership Dialogue with US treasury secretary Yellen. The dialogue is expected to focus on further deepening of India-US bilateral ties.

Sitharaman will attend a roundtable with institutional investors, hosted by the USISPF, and CEOs of US companies at a separate meeting hosted by USIBC and CII.

Her interaction with foreign investors on US soil comes after India repealed the controversial retrospective tax provision and rolled out a national monetisation pipeline, sending a strong message to global investors. Sitharaman will also have one-on-one meetings with select CEOs in Boston and New York.

She will also attend the G20 finance ministers and central bank governors’ meeting, which is expected to endorse the global tax deal.

The OECD on Friday finalised the tax deal that seeks to ensure a fair share of taxes for countries where multinationals and global digital companies operate.

Sitharaman will also meet World Bank president David Malpas and finance ministers from some other countries.

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