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Timothy Geithner eyes U.S. investment on 2-day India visit

Timothy Geithner eyes U.S. investment on 2-day India visit

Timothy Geithner will begin his maiden visit to India as U.S. treasury secretary on Tuesday, hoping to improve an economic relationship that is often eclipsed by Washington's trade with China.
Geithner will begin his two-day trip in Delhi - a city where he lived while his father was working for the Ford Foundation - holding meetings with Indian Prime Minister Manmohan Singh and Finance Minister Pranob Mukherjee.
The 48-year-old, who is an Asia expert and speaks fluent Mandarin, hopes to focus talks on global economic management, financial investment and building infrastructure, a senior treasury official said ahead of the visit.
"India is an emerging global power and one with which the United States has an increasingly vital economic and financial relationship," the treasury official said.
After years of lingering Cold War tensions, unease about Washington's close ties with Pakistan and Washington's displeasure at India's acquisition of a nuclear bomb, relations are blooming.
In mid-March the two countries signed a framework for cooperation on trade and investment in Washington, which U.S. Trade Representative Ron Kirk said would tap the "almost limitless potential for growth in trade between our two countries."
But ties between the world's first and fourth largest economies - and two of the world's largest democracies - are still overshadowed by the vast trade between China and the United States.
"This trip is significant just for the fact that it is happening," according to Arvind Subramanian of the Peterson Institute for International Economics.
"First and foremost, this trip is about symbolism, aimed at establishing a parallelism with the U.S.-China relationship," he wrote in a recent commentary.