As US treasury secretary Timothy Geithner arrived in New Delhi on Monday, India and United States are all set to strengthen their bilateral engagement through understanding on macroeconomic, financial sector and infrastructure-related issues.
The visit is billed as the occasion for launching ‘Indo-US Economic and Financial Partnership’, which is expected to put economic relationship between the two countries on a new trajectory.
Geithner meets finance minister Pranab Mukherjee, Prime Minister Manmohan Singh, and Planning Commission Deputy Chairman Montek Singh Ahluwalia on Tuesday.
On Wednesday, Geithner will hold a roundtable discussion with the captains of the Indian industry in Mumbai. Opportunities for growth and job creation in India and the US would be on agenda at the meeting with Indian businessmen.
“India is economically and strategically important” for the US and the main purpose of his India visit is to “establish a long-term” relationship, Geithner told Indian journalists in Washington before leaving for New Delhi.
 The treasury secretary also said he had “huge admiration” for India's policies in the economic and financial sector.
India has been investing heavily in power, railways, roads, ports, airports, telecommunications, urban housing and transport. Some experts say India will need to invest US$1 trillion on infrastructure over the next ten years.
The US is seeking to play a greater role in helping India build infrastructure.