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Treasury Notes

 In India, Secretary Geithner Explores Opportunities for Boosting Trade and Investment

By: Kara Alaimo

Secretary Geithner and Federal Reserve Chairman Ben Bernanke today attended the third annual meeting of the U.S.-India Economic and Financial Partnership in New Delhi, India. During the meeting, the Secretary explored ways in which our two countries can increase trade and investment, in order to create stronger growth and more jobs for our citizens.

Secretary Geithner also welcomed the recent reform agenda put forward by Prime Minister Singh and Finance Minister Chidambaram to promote more widespread gains in income.

The growing bilateral trade and deepening financial linkages between the United States and India offer a wealth of economic opportunities for citizens in both countries. India was the second-fastest growing major economy in 2011 and could become the third largest economy in the world by 2030.  The exponential growth of India's middle class is creating a thriving market for American exports, supporting thousands of jobs in the United States and contributing to President Obama's goal of doubling U.S. exports over five years.

Prior to the meeting, Secretary Geithner visited his former elementary school, the American Embassy School in New Delhi. He told students there that, after attending elementary school in India and high school in Thailand, he arrived at Dartmouth University in chilly New Hampshire without a winter coat!

But he said that growing up abroad gave him a valuable perspective on America's role in the world. "It's hard moving around so much, but it is a huge gift to learn more about your own country through the eyes of the world," Secretary Geithner said.

Kara Alaimo is the Spokesperson for International Affairs at the U.S. Department of the Treasury.

Posted in:  International Affairs
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