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Geithner’s India visit to push infra investment

business Updated: Apr 01, 2010 21:28 IST

US Treasury Secretary Timothy Geithner will discuss opening India’s vast infrastructure needs to financing from US firms, financial investment and economic stability during his visit next week.

Geithner will meet Prime Minister Manmohan Singh and launch the new US-India Economic and Financial Partnership with Finance Minister Pranab Mukherjee in New Delhi next Tuesday, a senior Treasury Department official said Wednesday.

Geithner will travel to Mumbai on Wednesday for talks with US and Indian business leaders. Donald Kohn, vice- chairman, US Federal Reserve, and other senior US officials will also be on the trip.

The new forum will focus on three broad areas for discussion — macroeconomic policy, the financial sector and infrastructure financing — and will meet at the ministerial level alternately in the US and India.

Geithner will also discuss bilateral cooperation in the G20 group effort to reform global financial markets and deepening India’s capital markets.

The US is India’s largest trading partner, with the volume of trade doubling in last five years.