India, US discuss coordination in upcoming Financial Action Task Force processes

Foreign Secretary Vikram Misri has held talks with US Deputy Secretary of the Treasury Michael Faulkender, where they discussed coordination in the upcoming Financial Action Task Force (FATF) processes.

Misri visited Washington from May 27–29, for a series of high-level engagements with senior officials of the US Administration. The visit was a follow-up to Prime Minister Narendra Modi’s visit to the United States on February 13, 2025, during which both sides launched the India-US COMPACT (Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology) for the 21st Century. Deputy National Security Advisor (DNSA) Pavan Kapoor was also part of the Indian delegation.

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“With Deputy Secretary of the Treasury Michael Faulkender, the Foreign Secretary
discussed ways to deepen economic and financial ties, including collaboration in international financial institutions and coordination in the upcoming Financial Action Task Force (FATF) processes,” the Ministry of External Affairs said in a statement.

In his meeting with Under Secretary of Commerce Jeffrey Kessler, both sides reviewed progress on the India-US Bilateral Trade Agreement, cooperation in critical and emerging technologies, and the need to streamline ITAR and export control regulations. They agreed to convene the next meeting of the India-US Strategic Trade Dialogue at the earliest opportunity.

Consistent with the vision outlined in the COMPACT, detailed inter-agency discussions were held on a range of strategic areas including defence cooperation, energy security, TRUST initiative, counter-terrorism, the Indian Ocean Strategic Venture, and collaboration through platforms such as the Quad, I2U2, and IMEEC.

Misri along with DNSA Kapoor jointly chaired a roundtable with industry representatives, focusing on deepening bilateral collaboration in critical and emerging technologies. Additionally, they held a substantive interaction with members of the think tank community, covering the full breadth of the India-US strategic partnership.

During his visit, the Foreign Secretary held wide-ranging discussions with counterparts across the Department of State, National Security Council, Department of Defense, Department of the Treasury, and the Department of Commerce.

At a luncheon meeting with Deputy Secretary of State Christopher Landau, both sides reviewed the full spectrum of the bilateral agenda. They underscored that Technology, Trade, and Talent would be the key pillars shaping the India-US partnership in the 21st century.

In meetings with Deputy Secretary of Defense Steve Feinberg and Under Secretary for Policy Elbridge Colby, both sides reaffirmed their commitment to a robust and forward-looking defence partnership. Discussions focused on co-production and co-development initiatives, sustained joint military exercises, logistics and information-sharing frameworks, and enhancing interoperability between the armed forces.