US-India Economic Meetings - WAOW - Newsline 9, Wausau News, Weather, Sports

US-India Economic Meetings

WASHINGTON (AP) -- Treasury Secretary Timothy Geithner says trade and investment barriers in India are limiting economic growth and job creation in both countries.

Geithner spoke Tuesday after talks with Indian Finance Minister Pranab Mukherjee that underscored close ties but also U.S. pressure for New Delhi to expedite reforms.

Geithner says U.S. companies still face barriers in India in banking, insurance, manufacturing, multi-brand retail and infrastructure.

He acknowledged the political challenges India faces in pushing reform but said there are long-term benefits for both countries.

Mukherjee said Monday that the coalition government is seeking political consensus for the passage of legislation on reform of the banking, insurance and pension fund sectors.

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