Tim Geithner, United States Treasury Secretary, met with an Indian delegation of the U.S.-India Aspen Strategy Group to discuss economic and other policy priorities between the two nations, according to a statement by the Treasury.
The participants in the meeting considered the progress of working groups that were established during Mr. Geithner’s visit to New Delhi in April, to launch the U.S.-India Economic and Financial Partnership. The main focus of the working groups was the deepening of capital markets and on macroeconomic issues.
The meeting came close on the heels of President Barack Obama hitting out at the loss of American jobs to countries such as India and China. Secretary Geithner had touched upon the very same issue prior to his India trip, when he had argued that higher taxes levied on U.S. companies having offshore operations were justified because tax incentives were not neutral to the location of the investment. “We are just trying to get reform that achieves neutrality; it is pretty good policy to be neutral on these kinds of things,” he had said at the time.
During Tuesday’s meeting the Secretary and the delegation discussed “a broad range of issues including the G-20’s commitment to create strong, sustainable and balanced global growth,” a Treasury official said.
