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US, India Launch Economic Partnership


The U.S. treasury secretary and India's finance minister say they are starting a new economic and financial partnership between India and the United States.

Indian Finance Minister Pranab Mukherjee hosted U.S. Treasury Secretary Timothy Geithner Tuesday in New Delhi for meetings to talk about the potential for mutually-beneficial cooperation between the two giant economies.

Speaking after the meeting, Geithner said he expects the cooperation to yield trade, jobs and investment for both India and the U.S. But he offered few specifics.

Mukherjee suggested opportunities for American investment in India's booming infrastructure expansion. He said in a five-year period more than 600 billion dollars could be invested by the U.S. in ports, roads and communications.

The treasury secretary is in India for a two-day visit. Earlier Monday, Geithner met with Indian Prime Minister Manmohan Singh and visited a mobile banking site.

On Wednesday Geithner will travel to the country's financial hub, Mumbai, where he is scheduled to meet with Indian entrepreneurs and heads of American financial companies.

Geithner lived for five years in India as a child, when his father worked for the Ford Foundation in New Delhi.

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