United States Secretary of the Treasury Janet Yellen on Monday said the US and India are among the closest partners in the world and her country appreciates India's leadership during its G20 presidency.

Yellen and Union Finance Minister Nirmala Sitharaman on Monday addressed the media ahead of the India-US dialogue as part of the G20 meetings currently underway here in Gujarat.

"We highly value our bilateral relationship with India. The US and India are among the closest partners in the world. The US appreciates India's leadership during its G20 presidency," Yellen said in a statement.

On the occasion, Sitharaman said, "PM Narendra Modi's visit to the US last month and his meeting with the US president have enhanced the strength and dynamism of partnership between both the countries."

The historic visit paved the way for new avenues of collaboration, propelling our partnership to a greater height, Sitharaman said in her statement.