‘India's economic reforms seen as a positive step by Biden administration'

Union Finance Minister Nirmala Sitharaman, currently in the US, said the ‘businesses with whom we have been interacting have also welcomed’ India’s economic reforms.

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Union Finance Minister Nirmala Sitharaman has said that India's strategic economic reforms have been welcomed by the Biden administration and leaders from the corporate sector in the US. The reforms that we have undertaken, particularly the steps taken for the withdrawal of the retrospective tax has been mentioned by the United States administration as a very positive step, the minister said.

Sitharaman is currently in the US. She attended the annual meetings of the International Monetary Fund (IMF) and the World Bank.

On the sidelines of the meetings, Sitharaman also engaged with more than 25 bilateral meetings including top officials of the Biden administration and a host of top American CEOs.

The businesses with whom we have been interacting have also welcomed that decision,” Sitharaman responded to ANI's question on economic reforms taken by India and its impact seen in the US.