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Union Finance Minister to Leave on a Three Day Visit to USA on 27th June,2011

(Press Information Bureau)
New Delhi

Union Finance Minister to Leave on a Three Day Visit to USA on 27th June,2011; To Deliver Keynote Address at the Conference on “US-India Economic and Financial Parternership” ; To Hold Bilateral and Cabinet Level Meetings with US Secretary of Treasury; Macroeconomic and Financial Sector Reforms to Dominate the Agenda

The Union Finance Minister Shri Pranab Mukherjee will be leaving on a three day visit to USA on the early morning of 27th June,2011.On the day of his arrival in Washington DC i.e. on 27th June,2011 itself , the Finance Minister Shri Mukherjee will deliver the Keynote Address in the evening along with Mr Timothy Geithner,Secretary,US Department of Treasury at the Conference on the theme of “US Indian Economic and Financial Parternership”. This Conference is being organized by Confederation of Indian Industry (CII) in collaboration with Brookings Institute of US. The different sessions of this day long conference will also be addressed by Shri R.Gopalan, Secretary, Department of Economic Affairs, Dr Kaushik Basu, Chief Economic Adviser, Ministry of Finance, Shri Subhir Gokran, Deputy Governor of RBI and Shri U.K.Sinha, Chairman, SEBI among others.

In the evening, the Union Finance Minister Shri Pranab Mukherjee will hold a bilateral meeting with Mr Timothy Geithner, US Treasury Secretary. Both the leaders are likely to discuss issues of mutual interest and general world economic situation among others. Later, Mr Geithener will host a dinner in the honour of visiting Indian Finance Minister Shri Mukherjee.

Next day on the morning of 28th June,2011, the Union Finance Minister Shri Pranab Mukherjee will participate in the Cabinet Level Meeting of the India-US Financial and Economic Partnership with Mr Timothy Geithener, Secretary, US Department of Treasury. Beside, the Union Finance Minister Shri Pranab Mukherjee, the Indian delegation will include among others Dr D.Subbarao, Governor, RBI, Shri R.Gopalan, Secreatry, DEA, Dr Kaushik Basu, CEA, Shri Shashikant Sharma, Secretary, Department of Financial Services, Dr Subir Gokarn,Deputy Governor, RBI, Shri U.K.SInha, Chairman, SEBI, Shri B.C.Khatua, Chairman, Forward Markets Commisssion (FMC) and Ms Meera Shankar,Indian Ambassador to US . From US side along with Mr Timothy Githener, the other members of US delegation mainly include Mr Ben S Bernanke, Chairman, Board of Governors, Federal Reserve System, Mr Austan Goolsbee, Chairman,Council of Economic Advisers to the President of US, Ms Mary L Schapiro, Chairman, US Securities and Exchange Commission, Mr Gary Gensel, Chairman, Commodity Futures Trading Commission, Ms Sheila C Bair, Chairman, Federal Deposit Insurance Corporation, Mr Martin J Gruenberg, Vice Chairman, FDIC Board of Directors and Mr Nathan Sheets, Director, Division of International Finance among others.

During the meeting, both the sides are likely to discuss macroeconomic issues including Macro over-viewing, Global Rebalancing and G-20: Role of US and India, Global capital flows and its implications for advanced and emerging economies, Currency market volatility, Management of capital inflows, Infrastructure Financing and PPP along with General Global Economic Outlook. Both the sides are also likely to discuss issues relating to Financial Sector Reforms including Financial Regulatory Reforms both in India and US, Commodity Pricing, Financial Markets and Financial Inclusion among others.

After the aforesaid meeting, both the leaders would address a Joint Press Conference.

In the afternoon, the Union Finance Minister Shri Pranab Mukherjee will have a Luncheon Meeting with the Chief Executive Officers (CEOs) of Indian and American Companies.

Later, the Finance Minister Shri Mukherjee will have a bilateral meeting with US National Security Adviser (NSA).

In the evening, the Union Finance Minister Shri Pranab Mukherjee will attend the Dinner hosted by India’s Ambassador to US Ms Meera Shankar in the honour of visiting Finance Minister at India House in Washington.

The Union Finance Minister Shri Pranab Mukherjee will leave for back home on 29th June,2011 and will reach the national capital next day.