The 9th India-US Economic and Financial Partnership meeting was held in New Delhi on Friday

In order to support India's energy transition in accordance with its nationally established climate objectives and capabilities, India and the US decided on Friday to collaborate with partners to seek a broad mix of public and private funding.

The joint statement of the 9th India-US Economic and Financial Partnership, issued by Finance Minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen, said, "We agreed that India and the U.S. should work together with partners to pursue a broad mix of public and private financing to facilitate India’s energy transition in line with its nationally determined climate goals and capabilities."

The two nations also committed to carrying on the conversation on climate-aligned finance under the auspices of the G20 Sustainable Finance Working Group, with the United States serving as Co-Chair and India serving as G20 President next year.

For the second time, the Economic and Financial Partnership conference included a session specifically devoted to discussing climate finance, demonstrating the parties' common commitment to accelerating the mobilization of climate financing in order to achieve their ambitious climate goals.

During the Friday ministerial meeting, both dignitaries assessed the significant efforts that have recently been made by both parties to strengthen cooperation in a variety of sectors, and they improved their knowledge of one another on issues of global significance.

They also had fruitful conversations on the macroeconomic outlook, supply chain resilience, climate finance, multilateral participation, global debt vulnerabilities, anti-money laundering, and countering the financing of terrorism.