She made these comments in her opening remarks ahead of the 9th meeting of the India-US Economic Financial Partnership with US treasury secretary Janet Yellen.

“We’ll continue to rely on the close cooperation of the US to address the global economic challenges, in a more coordinated manner and in strengthening multilateralism,” the Finance Minister said.

Sitharaman further said that India deeply values its relationship with the US as a trusted partner. “Our strong ties have been reinforced, through significant and frequent interactions between the Prime Minister of India President of US and their commitment towards consolidating a strategic partnership.”

Yellen, who earlier arrived on a day-long visit to New Delhi, said in her opening remarks, “We hope that mutual understanding we built will help us work together to advance our shared goals, incl mitigating existential risk of climate change, providing multilateral institutions, & addressing debt burdens faced by many developing countries.”

During the meeting, both sides will discuss issues of mutual interest, including climate finance, multilateral issues, India-US cooperation at G20 under India’s presidency, taxation, supply chain resilience, global economy and macroeconomic outlook.

Yellen had earlier in the day visited the Microsoft campus in Noida and also interacted with tech industry representatives.