Geithner to meet Chidambaram, PM today

New Delhi: US Treasury Secretary Timothy Geithner was meeting with Finance Minister Palaniappan Chidambaram in New Delhi today to discuss ways to improve economic ties between the two countries.

The meeting came amid a flurry of new Indian government initiatives to attract foreign investment, improve the business climate and reignite the nation’s declining economic growth.

[caption id=“attachment_484273” align=“alignleft” width=“380”]  Finance Minister P Chidambaram.[/caption]

Last month, the Cabinet agreed to allow foreign retail giants, such as US-based Wal-Mart, into the Indian market. It has also moved to allow greater foreign investment in the broadcasting industry, airlines, insurance and pension

US Federal Reserve Chairman Ben Bernanke was also participating in the meeting, where officials were expected to discuss US concerns about the pace of financial reforms in India and Indian concerns about increasing difficulties in getting US visas for IT professionals.

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The US officials were to meet Prime Minister Manmohan Singh later on Tuesday.

AP