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Treasury Secretary Geithner visits India

Treasury Secretary Geithner visits India

U.S. Treasury Secretary Timothy Geithner met Tuesday with Indian leaders to discuss steps to strengthen economic ties and boost U.S. business prospects in the fast-growing South Asian economy, officials said.
Geithner started off his two-day visit to India with a stop at a store in the capital that offers mobile banking services, highlighting steps to expand Indians' access to financial services. He spoke briefly to a street vendor who irons clothes and is a customer of the mobile banking shop.
Geithner later met with Prime Minister Manmohan Singh and his Indian counterpart, Finance Minister Pranab Mukherjee, and took part in the first meeting of the U.S.-India Economic and Financial Partnership, designed to promote trade and investment.
"Deepening our ties with India is critical to the broader global effort to develop a framework for strong, sustainable and balanced growth and will facilitate more trade, investment and job creation in our two countries," Geithner said in a statement.
The vice chairman of the Federal Reserve, Donald Kohn, and other U.S. officials also are on the 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 economies 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 was led by Geithner and India's Finance Minister 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 : 2021-07-29 08:25 GMT+08:00