India-U.S. Financial and Economic Partnership Launched

(RTT News)

India and the United States have launched a bilateral economic and financial partnership that largely focuses on micro-finance, infrastructure and financial sector reforms. The partnership, launched by visiting U.S. Treasury Secretary Timothy Geithner and his Indian counterpart Pranab Mukherjee in New Delhi on Tuesday, aims at increasing trade and investment and create more job opportunities in both countries.

India asked U.S. investors to participate in its $600 billion infrastructure program in the next five years, while America sought greater financial cooperation with India for bringing about global economic stability.

U.S. argues that more open Indian markets would help make it easier and cheaper for India to access capital, which in turn could help finance the country’s growing infrastructure needs. Read more here.