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India's reform measures very significant: US Treasury Secy
The US Treasury Secretary made the statement at a joint conference with Finance Minister P Chidambaram.
New Delhi: India's recent reform measures are "very significant" and will fuel private investment in the economy, US Treasury Secretary Timothy Geithner said during a visit to New Delhi on Tuesday.
India has announced a series of measures, including raising the price of subsidised fuel and opening the retail sector to foreign supermarkets, to revive economic growth, which has slowed to a near three-year low.
"The reforms outlined by the government of India offer a very promising path to improving growth outcomes for the Indian economy," Geithner said at a joint news conference with Indian Finance Minister P Chidambaram.