US Treasury Secretary Timothy Geithner has left for New Delhi to launch the Indo-US Economic and Financial Partnership which according to him would set the pace and put and economic relationship between the two countries on a new trajectory.
US Treasury Secretary Tim Geithner and Finance Minister Pranab Mukherjee announced the establishment of a new US-India Economic and Financial Partnership to strengthen bilateral engagement and understanding on macroeconomic, financial sector and infrastructure-related issues.
When President Barack Obama and Dr Manmohan Singh had announced the initiative, Geithner had said that 'India is an emerging global power and a country with which the US has an increasingly important economic and financial relationship.'
In perhaps the first major conference on the United States-India strategic partnership in the aftermath of the Khobragade controversy that plunged the bilateral relationship in a downward spiral and is now in the process of being resurrected, the undeniable consensus among the panelists and participants was that much ballyhooed strategic convergence between Washington and New Delhi has dissipated.
India will welcome two trade missions in 2015 focused on meeting its infrastructure needs with US technology and services.
Stating that open markets mean more opportunities, Modi said during the last six years the government has made many efforts to make the Indian economy more open and reform oriented.
Jaitley is scheduled to present his first full Budget on February 28.
Condolences have poured in from across the globe, including from the United States, Canada and Sri Lanka following the demise of former Prime Minister Manmohan Singh.
Prosperity was not possible without peace, the minister said.
He drew the roadmap of India's economic reform, unshackled it from the licence raj and pulled it back from the brink when even its gold reserve was pledged.
The prime minister and president stated their intention to expand defence co-operation to bolster national, regional and global security.
To combat terror financing, India and the US committed to work together to check illicit money transfers.
"On space, we will be able to announce that India is signing the Artemis Accords, which advance a common vision for space exploration for the benefit of all humankind," a senior administration official said hours before the meeting between Prime Minister Narendra Modi and President Joe Biden in the Oval Office.
Narendra Modi government, the US Treasury Secretary Jacob Lew on Thursday said India needs more reforms
The nation's largest lender State Bank of India today said it will not hike its lending rates immediately but will wait for further signals from the Reserve Bank's forthcoming annual monetary policy.
'2020 will show whether India's troubled domestic economic and political house reveals a mismatch in their strategic association or whether closer strategic ties are yet possible,' says Anita Inder Singh.
'When George Bush Senior decided in 1992 that India and the United States must start talking in this-now-changed world, who would have thought that 10, 15 years down the road, we will start looking at each other as strategic partners?'
Furthering Indo-US cooperation on terrorism, Prime Minister Narendra Modi and President Barack Obama on Tuesday agreed to make "joint and concerted efforts" to dismantle safe havens for terror and criminal networks like Lashkar-e-Tayib, Jaish-e-Mohammad, Dawood-company, Al Qaeda and the Haqqani network.
Moving ahead with their new mantra -- Chalein Saath Saath: Forward Together We Go -- Prime Minister Narendra Modi and United States President Barack Obama on Tuesday vowed to deepen cooperation in every sector for the benefit of global stability and people's livelihoods over the next ten years.
Secretary Tillerson met with Foreign Secretary Jaishankar on Friday to discuss the US-India relationship and the agenda for Prime Minister Modi's meetings at the White House on June 26, a State Department spokesman said told PTI.
This is the joint statement issued by the ministry of external affairs on the visit of US President Barack Obama to India.
N Sundaresha Subramanian digs deeper into what Catalyst, an Indo-US project, brings to the payments ecosystem.
'It is in the interest of both sides that the visit of the US President is seen as being successful. Both sides have invested considerable political capital in it. This rapid exchange of visits and the decisions taken have to be justified, beyond the symbolism, which is no doubt important in itself. This opportunity to impart a fresh momentum to ties should not be missed,' says former foreign secretary Kanwal Sibal.
