Alexa
  • Directory of Taiwan

Treasury Secretary Geithner begins visit to India

Treasury Secretary Geithner begins visit to India

U.S. Treasury Secretary Timothy Geithner on Tuesday began a two-day visit to India aimed at strengthening economic ties and boosting U.S. business prospects in the fast-growing South Asian economy.
Geithner started off his visit with a stop at a store in the Indian capital that offers mobile banking services. The visit is an effort to highlight steps India is taking to expand its citizens' access to financial services. He spoke briefly to a street vendor who irons clothes and is a customer of the mobile banking shop.
Geithner was due to meet Prime Minister Manmohan Singh and his Indian counterpart, Finance Minister Pranab Mukherjee, and to take part in the first meeting of the U.S.-India Economic and Financial Partnership, designed to promote trade and investment.
The vice chairman of the Federal Reserve, Donald Kohn, and other U.S. officials also are on the two-day visit aimed at deepening ties with India _ the most populous democracy, one of the fastest-growing economies and the most stable U.S. ally in a complex region.
Relations between the U.S. and India are at a high point, thanks partly to the Bush administration's push to allow U.S. civilian nuclear trade with India. The Obama administration has used that as a foundation for improving ties and hopes of cooperation on Washington's priorities of combating terrorism and climate change.
India's economy has surged in the past decade and is the second fastest-growing major economy after China.
India is a member of the Group of 20 nations, which brings together the wealthiest industrial countries and major developing nations such as China, India and Brazil. The G-20 was designated by President Barack Obama and other leaders at a summit last September in Pittsburgh as the top policy-setting group for the global economy.
The meeting of the US-India partnership group will be led by Geithner and India's Mukherjee.
On Wednesday, Geithner is due to travel to India's financial capital, Mumbai, and meet with Indian entrepreneurs and chief executives of leading companies.


Updated : 2021-05-06 10:07 GMT+08:00