Timothy Geithner, Treasury Secretary, United States, who spent his childhood in Mumbai visits India for the first time as treasury secretary. Geithner is in India to take part in the first US-India Economic and Financial Partnership meeting that is being aimed at strengthening the economic ties between the two countries.
The focus of this India-US partnership is on three wide areas :- Macroeconomic Policy, Financial Sector and Infrastructure financing. The spotlight is addressing economics, trade & agriculture, cooperation, energy & climate change and education. This seems to be a step towards making strong economic bond between India and us. But is it really so…??? The president of US Barack Obama seems to be a good businessman having long strategic vision. At one end Obama asks his US companies to employ only American citizens and if the companies gives job to other people then they have to pay more taxes, forcing Asian’s to leave their jobs and return back and on the other end he talks about reducing duties on import of farm products.
India is world’s fourth largest economy and second fastest growing major economy of the world after China. Moreover, India seems to be a big market for foreign companies with a great population which can invest on outside products. Also US Assistance Secretary talks about the benefits of an open economy which will make India’s market easily accessible for outside investors and what about the Indian investors where will they go. Will Mr. Obama give permission to Indian investors approach his market?