India over the years has emerged as a role model for balanced economic growth for countries across the world, US Treasury Secretary Timothy Geithner said on Tuesday.
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.
Finance Minister Pranab Mukherjee is leading a high-powered team of policymakers, including Commerce Minister Anand Sharma and Planning Commission Deputy Chairman Montek Singh Ahluwalia at the India-US CEOs Forum.
Among Sensex stocks, Maruti rose the most, followed by Tech Mahindra, Mahindra & Mahindra and Asian Paints. Gains in Reliance, TCS, Infosys, HCL Tech, HDFC and ICICI Bank also helped the barometer extend its rally for a second day.
He also called for tough and effective reforms so that when such mistakes happen, they are modest in size and the financial system can handle them well.
US Treasury Secretary Timothy Geithner on Wednesday identified India, China and Brazil as countries that will experience rapid growth in the coming decades, which he said would provide "consistent strength" to the American economy.
On Wednesday, Mukherjee addressed two press conferences at the International Monetary Fund.
The growth of these countries in one way or the other would boost up American economy, he told reporters at a White House news conference.
India on Tuesday asked US investors to participate in its $600-billion infrastructure programme in the next five years, even as America sought greater financial cooperation for bringing about global economic stability.
He should not publicly press India to open its financial sector.
Tim Geithner, President Barack Obama's choice for Treasury secretary, on Thursday accused China of "manipulating" its currency and pledged "aggressive" diplomatic action to drive Beijing into action.
A day after the US dragged China to the World Trade Organisation, Treasury Secretary Timothy Geithner is slated to brief two key congressional committees later on Thursday on how the Obama administration plans to make Beijing provide a more-level playing field to American firms.
China is not manipulating its currency, but the yuan remains undervalued, the Obama administration told the US Congress in a report.
Treasury Secretary Timothy Geithner on Thursday ruled out any possibility of US facing a Greece-like debt crisis and said that better-than-expected economy would help strengthen government accounts.
Industrialists Anand Mahindra and Ratan Tata will co-host a power lunch for CEOs with the visiting US Treasury Secretary Timothy Geithner on April 7.
The US economy, which is hit by one of the worst crisis after the Great Depression, is coming back stronger and faster than predicted, the US Treasury Secretary, Timothy Geithner, has said.
In his letter to Sitharaman, Venugopal said media reports have exposed the alleged "quid-pro-quo between BJP and several firms, which in a strange coincidence donated to it, after the Enforcement Directorate (ED), Income Tax Department (IT) and Central Bureau of Investigation (CBI) and others, raided or searched those enterprises".
So, Tim Geithner, the US Treasury secretary, is fighting chronic uncertainty with transparency. The results of the "stress tests", an exercise to identify undercapitalised banks so the government can make sure they have enough capital to recover, will be announced on Thursday.
Ajay Banga will be a 'transformative leader', who will bring expertise, experience, and innovation to the position of World Bank President, United States President Joe Biden has said after the top Indian-American business executive was confirmed as the new head of the international lender.
Barack Obama warned Americans on Monday that economic crisis could turn into catastrophe if the federal government does not take decisive action to create jobs and stabilise the financial sector.
Geithner said during their discussions this week, in Singapore and China, US President Barack Obama emphasised that the US and China must be at the centre of efforts to put the global economy on a more sustainable and balanced growth path.
US Treasury Secretary Timothy Geithner has said that he is in favour of expansion of H-1B visa programme, offered to highly skilled professionals and students to live and work in the country.
The US, which witnessed one of the worst economic crisis in recent times, is coming out of recession faster and stronger than many countries of the world, a top Obama Administration official has said.
Reforms are key to India sustaining the pre-economic crisis growth rate of 9 per cent, United States Treasury Secretary Timothy Geithner said in New Delhi on Monday.
With various financial sector bills pending in Parliament, the US today said India should further liberalise this area to sustain 8-9 per cent growth it was recording before being impacted by global economic crisis.
The US expects India to play a greater role along with China and other major economies in tackling the current financial crisis and supports bigger responsibilities for it in the international financial institutions, Treasury Secretary Timothy Geithner has said.
Obama administration wants to force a wide range of large financial institutions to hold more capital as part of a sweeping regulatory overhaul
India, China and other countries from the emerging markets are likely to grow at a high rate for sustained period of time as they have a long way to go to bring their people from agriculture into industry, US Treasury Secretary Timothy Geithner told US lawmakers.
Announcing Bolton's sacking on twitter, Trump said he will name a new national security advisor next week.
India and the United States vowed on Thursday to step up joint efforts to halt illicit money flows.
Former US Treasury Secretary Robert E Rubin has been appointed as the chairman of the Citigroup after the resignation of its embattled CEO Charles Prince, prompted by major write-offs by the world's biggest bank following turmoil in subprime loan and credit markets. Vikram S. Pandit, an Indian, who took over Citigroup's investment banking operation in early October, just six months after joining the bank, is one contender for the top post.
Enumerating a few steps that India could take to become even more competitive, US Treasury Secretary Henry M Paulson Jr said it could reduce needs for financial institutions to hold substantial amount of deposits in government debts which limits the scope of banks for taking greater exposure to certain priority sector.
The bankruptcy filing of Lehman Brothers on September 15, 2008 brings back the most vivid memories of the crisis.
Mukherjee is in Washington, DC to co-chair the US-India CEO's Forum with US Treasury Secretary Timothy Geithner.
US Treasury Secretary Timothy Geithner has said he would not rule out the option of forcing out chief executives of banks which have received taxpayers' money but are not performing well.
Timothy Geithner, chosen for the post of Treasury Secretary by President-elect Barack Obama failed to pay federal taxes worth over 34,000 dollars for several years, a media report says.
Union Finance Minister Nirmala Sitharaman, BJP national general Secretary Dushyant Kumar Gautam, BJP state unit president B Y Vijayendra, and former chief ministers B S Yediyurappa and Basavaraj Bommai were among those present at the legislature party meeting, where R Ashoka was picked as its leader.
"If the Doha Round does not materialise that would not be on account of the US agricultural subsidies ... major emerging economies (India and Brazil) are not coming up with enough market access, especially in non-agricultural areas such as services including financial services," US Treasury Secretary Henry Paulson, who will be visiting India shortly said.
Bajaj Finserv was the top gainer in the Sensex pack, rallying around 7 per cent, followed by Bajaj Finance, HDFC, L&T, ICICI Bank, Sun Pharma and NTPC. On the other hand, Tech Mahindra, ITC and M&M were the laggards.
After averaging at 8.8 per cent growth over the past four years, India's growth rate in 2009-10 is expected to slow down to 5.5 per cent mainly due to lower investment and declining external demand, the US Treasury Secretary Timothy Geithner has said.
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