US-India investment initiative |
The USA and India are embarking on giving a big fillip to investments in each other`s country. US President Barack Obama is chief guest at India`s Republic Day January 26. Ahead of the visit, India and the US have launched an investment initiative to focus on capital market reforms and policy measures that would help spur long-term investment by US investors in India. It was announced during the White House meeting between Obama and Prime Minister Narendra Modi in September. But, the India-US Investment Initiative was formally launched in Washington, DC at Department of Treasury through an agreement signed during a meeting between US Assistant Secretary of Treasury for International Finance Ramin Toloui and India Ministry of Finance Additional Secretary Ajay Tyagi. The two countries agreed to cooperate on facilitating capital market development conducive to financing investment, creating an environment that encourages investment in various sectors in India, and working to overcome any obstacles to such investment. They also met with a group of US portfolio investors and capital market experts that work on India. The discussion focused on potential policy measures that could facilitate US investment in India and deepen India`s capital markets. Toloui and Tyagi discussed the importance of continued progress on India`s economic reform agenda, which will promote India`s growth and job creation, as well as greater US-India economic ties.
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