India's recent reform measures are "very significant" and will fuel private investment in the economy, US Treasury Secretary Timothy Geithner said during a visit to New Delhi on Tuesday. India had announced a series of measures, including raising the price of subsidised fuel and opening the retail sector to foreign supermarkets, to revive economic growth, which has slowed to a near three-year low.

"The reforms outlined by the government of India offer a very promising path to improving growth outcomes for the Indian economy," Geithner said at a joint news conference with finance minister P. Chidambaram.