India''s new drive to reform its economy will spur growth in private investment and income, US Treasury Secretary Timothy Geithner said on Tuesday, welcoming recent steps that have ended more than a year of policy paralysis in New Delhi. Sitting beside P. Chidambaram, whose appointment as India''s finance minister in August helped trigger the rash of reforms, Geithner said the new policies offered "a very promising path to improving growth outcomes for the Indian economy".
"The recent reforms advanced by Prime Minister (Manmohan) Singh and Minister Chidambaram will help provide a foundation for stronger economic growth, an increase in investment, and more widespread gains in income," Geithner told a news conference with his Indian counterpart in New Delhi.