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US economic officials meet top Indians

Tuesday, 9 Oct 2012 | 2:13 AM ET

NEW DELHI -- U.S. Treasury Secretary Timothy Geithner was meeting Tuesday with Indian Finance Minister Palaniappan Chidambaram in New Delhi to discuss ways to improve economic ties between their two countries.

The meeting came amid a flurry of new Indian government initiatives to attract foreign investment, improve the business climate and reignite the nation's declining economic growth.

Last month, the Cabinet agreed to allow foreign retail giants, such as U.S.-based Wal-Mart, into the Indian market. It has also moved to allow greater foreign investment in the broadcasting industry, airlines, insurance and pension

U.S. Federal Reserve Chairman Ben Bernanke was also participating in the meeting, where officials were expected to discuss U.S. concerns about the pace of financial reforms in India and Indian concerns about increasing difficulties in getting U.S. visas for IT professionals.

The U.S. officials were to meet Prime Minister Manmohan Singh later Tuesday.