US Treasury Secretary hopes India will maintain its growth rate

New Delhi, Apr 7 (ANI): US Treasury Secretary Timothy Geithner hopes that India would maintain its growth rate in the future.

Addressing he Confederation of India Industry (CII) here on Tuesday, Geithner said: "I don't see why it is not possible for India to show strong growth rate in the future... It depends on many ways how successful the government is in carrying out the stages of reforms which are already so advance, have so much of momentum, but that would be obviously important."

In response to a query on the US's increasingly cautious attitude towards outsourcing, Geithner said that this is kind of 'defensive imperative'.

"Outsourcing would make us weaker not stronger. The President is focusing on re-establishing the domestic market. There is defensive imperative and broader internal imperative to establish internal confidence and eliminate economic insecurity," he added.

Geithner also said that India's economic relationship with the US offers promising growth opportunities for both American and Indian companies.

He also mentioned that India's future growth would depend on its investment in public infrastructure.

Montek Singh Ahluwalia, Deputy Chairman of India's Planning Commission, also addressed the conclave.

Ahluwalia said that India and US share many common interests.

"But it reflects the fact that we have many common interests and Commerce Ministry, Finance Ministry, Energy Ministry, Agriculture there is lot of sectors where dialogue is taking place, the whole thing is being overviewed," Ahluwalia added.

He further said that India welcomes private investors from all countries, including the US.

"I mean we are welcoming private investors from all countries to participate. I believe the US is interested in this experiment, presumably the discussions between our Finance Ministry and their Finance Ministry will help to bring about common understanding of what is kind of environment in which PPP (Public-Private-Partnership) would attract American investment," Ahluwalia said. (ANI)