India, US to jointly deal with inflation, capital flows

Lalit K Jha
Washington (PTI) - India and the US Wednesday
agreed to enhance cooperation to deal with global challenges
like high commodity prices and volatility in capital flows,
besides strengthening bilateral trade and investment.
"The two sides agreed to a robust roadmap for the
coming year that included deeper engagement in ...
macroeconomic challenges, including growth, inflation, global
liquidity, commodity prices, international capital flows...,"
said a joint statement issued after the second US-India
Economic and Financial Partnership meet here.
Indian Finance Minister Pranab Mukherjee held
bilateral discussions with top US officials, including
Treasury Secretary Timothy Geithner, during his three-day
visit.
The statement said India and the US will work together
to expand trade and investment links between their economies,
and will further develop and strengthen their financial
systems.
The two democracies will also work together in the
G-20 on an effective mutual assessment process to bring about
strong, sustained, and balanced global growth.
The joint statement said that the US is committed to
making the investments in technology, skills and
infrastructure necessary to maintain and enhance its
competitiveness in the global economy.
It said that India intends to take steps to marshal
private and public saving to meet the infrastructure needs of
a rapidly growing Indian economy.