Geithner Discussed Economy, Trade Barriers With India

U.S. Treasury Secretary Timothy F. Geithner and Indian Finance Minister Palaniappan Chidambaram discussed lowering trade barriers and extending ways to expand capital markets, while working toward steering the global economy out of “uncertainties.”

“We discussed ways we can further lower barriers to trade and investment to facilitate stronger growth and job creation,” according to a joint statement from the two officials after their meeting today in New Delhi. “We agreed to deepen our cooperation bilaterally and in multilateral fora, including the G-20 to contribute towards steering the global economy out of uncertainties and achieve strong, sustainable, and balanced growth going forward.”

Geithner’s visit for the annual meeting of the U.S.-India Economic and Financial Partnership follows a recent Indian policy revamp to open up to more foreign investment and revive expansion.

To contact the reporter on this story: Meera Louis in Washington at mlouis1@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

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