US, India to Deepen Economic Engagement

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India and the U.S. on Tuesday have vowed to deepen bilateral and multilateral engagement in order to capitalize on economic opportunities in the two countries. Indias Finance minister Pranab Mukherjee attended a meeting with US treasury secretary Timothy for discussion.

“Through stronger collaboration and coordination amongst our economic and financial policymakers, this partnership has sought to deepen US-India bilateral and multilateral engagement in order to fully capitalize on the wealth of economic opportunities between our two nations,” a joint statement issued at the end of the conclusion of second India-US Economic and Financial Partnership said.

It is learnt that the officials from both the countries discussed the challenges that the economies were facing and spoke in lines of ensuring a strong recovery and price stability in the short ten, as well as the range of policies necessary to reach growth at their full potential domestically.

“The United States and India will work together to expand trade and investment links between our two economies, and to develop and strengthen our financial systems. India and the United States will also work together in the G20 on an effective mutual assessment process to bring about strong, sustained, and balanced global growth,” the statement said.

Sources: PTI; Times of India

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