India, US discuss measures to strengthen capital markets
The Indian government has discussed several key measures with the United States to strengthen its capital markets and encourage investors within the country and abroad to fund infrastructure and other development projects.
Ajay Tyagi, Additional Secretary, Department of Economic Affairs, Ministry of Finance and Ramin Toloui, Assistant Secretary for International Finance, US Department of Treasury, discussed these measures during the second meeting of the US-India Investment Initiative.
“Our discussion today focused on potential policy measures that could deepen India’s capital markets and drive greater US investment in India. Specifically, we discussed new initiatives to mobilize private capital to fund infrastructure, policies that can develop a deeper and more liquid corporate debt market, and instruments to help sub-sovereign governments raise financing for development,” said a joint statement issued after the meeting.
The two sides also discussed “potential avenues of technical collaboration” for developing deeper and more robust Indian capital markets.
“We look forward to continued engagement between India and the United States on economic issues at the sixth annual US-India Economic and Financial Partnership Dialogue in Washington DC in 2016,” the statement said.
The US-India Investment Initiative, which seeks to focus on capital market reforms and adopting policies to encourage US investments in India, was announced in September last year when Prime Minister Narendra Modi met President Barack Obama in the White House. The first secretary-level talks were held in US in January this year.
November 05, 2015 | 3:10pm IST.
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