Geithner to visit India later this month

Washington: Aiming to further expand the bilateral economic engagement, US Treasury Secretary Timothy Geithner would travel to India later this month for the third annual meet of the US-India Economic & Financial Partnership. Geithner would be in New Delhi on June 27 and would travel to Mumbai on June 28. He will hold meetings with Finance Minister Pranab Mukherjee.

In Mumbai, he would meet the Reserve Bank of India (RBI) Governor Duvvuri Subbarao and the business leaders from a variety of industries. "The US-India Economic and Financial Partnership has served as a platform for greater cooperation on economic issues of importance to both nations," the Treasury Department said in a statement.

"Both countries recognise the importance of expanding bilateral economic engagement, noting the rapid growth of US-India economic ties and the increasing range of global macroeconomic and financial issues on which the United States and India cooperate," it said. Partnership activities over the last three years have focused on three broad areas macroeconomic policy, the financial sector, and infrastructure financing, the Treasury said.

Cabinet-level meetings, alternately held in the US and India, have been led by Geithner and Mukherjee. "Working group meetings held throughout the year have advanced discussions on specific economic areas. In addition to discussing these activities, Secretary Geithner will also discuss issues related to illicit finance, including the implementation of international sanctions," the statement said.