Yellen: US Helping India to Quicken Its Energy Transition

India's Finance Minister Nirmala Sitharaman (R) speaks next to US Treasury Secretary Janet Yellen during a joint statement with U.S., at the Mahatma Mandir in Gandhinagar on July 17, 2023.

U.S. Treasury Secretary Janet Yellen said Monday that the U.S. is working with India to help quicken India's transition to renewable energy.

Yellen met with Indian Finance Minister Nirmala Sitharaman on the sidelines of a G20 meeting in India.

"We look forward to working with India on an investment platform to deliver a lower cost of capital and increased private investment to speed India's energy transition," Yellen said.

Yellen's current visit to India follows Indian Prime Minister Narendra Modi's recent state visit to Washington. Yellen's latest visit to India is her third trip there in nine months, an indication of the growing ties between the two countries.

Some information for this report came from The Associated Press and Reuters.