US Treasury Secretary Timothy Geithner slated to visit India next week
SME News, Saturday, Oct 06, 2012 16:16:25 PM IST
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NEW DELHI: Prominent US officials led by Treasury Secretary Timothy Geithner are slated to visit India next week in the backdrop of UPA government opting for series of reform initiatives such as allowing foreign direct investment (FDI) in multi-brand retail and also increasing the FDI cap in insurance sector.
Federal Reserve Chairman Ben Bernanke will accompany Geithner on this two-day visit, starting from October 9. They will have various high level meetings in here and the financial capital.
Moreover, the US officials are slated to meet Union Finance Minister P Chidambaram in New Delhi and RBI Governor D Subbarao in Mumbai.
The visit is coming at a time when India opened its multi-brand retail sector for foreign investments. This decision has already been appreciated by US Inc.
This week, Centre in its second-wave of reforms unveiled big-ticket reforms steps which comprise the decision to permit FDI in pension sector and also raising foreign investment cap in insurance to 49% from 26%.
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