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Geithner was speaking in an interactive session with the Indian Industry leaders which was jointly organized by the Confederation of Indian Industry (CII) and US India Business Council (USIBC).

10 Oct 2012

NEW DELHI(Commodity Online): The economic reforms being initiated by the Indian Government is highly encouraging and they would help restore investor confidence thus reviving growth too, according to Timothy Geithner, Secretary, US Department of Treasury. He also expressed the optimism on the India’s growth story in the future.

On the global recovery the most of the revival is contingent on how the developments in the Euro Area pan out as the latter remains the biggest uncertainty, even though India and US have had historically good economic relationship, it needs to be further strengthened in order to face the current bout of economic challenges he added.

The principle test of economic policy is to create an enabling environment in order to create more job opportunities and the recent slew of reforms initiated by the Indian government have the impact and direction of reforms which are very powerful.

US has supported the initiatives of the G-20 in terms of better governance structures and social institutions for better financial regulation and supported the creation of financial tools and sound economic policies to tackle the current global financial crisis.

Geithner was speaking in an interactive session with the Indian Industry leaders which was jointly organized by the Confederation of Indian Industry (CII) and US India Business Council (USIBC).


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