Shri Ajay Tyagi, Additional Secretary, Department of Economic Affairs, Ministry of Finance and Mr Ramin Toloui, Assistant Secretary for International Finance, U.S. Department of Treasury participated in the second Meeting of the U.S-India Investment Initiative, held here today.

Following is the Text of the Joint Press Statement issued after the second U.S-India Investment Initiative Meet today:  “The U.S.-India Investment Initiative will help our governments discuss and explore capital market reforms and policy measures to spur long-term investment by domestic and foreign investors in India.”

 “Our discussion today focused on potential policy measures that could deepen India’s capital markets and drive greater U.S. 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. We also discussed potential avenues of technical collaboration between the Ministry of Finance and Treasury in 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 U.S.-India Economic and Financial Partnership Dialogue in Washington, D.C. in 2016.”

Capital market reforms to expand long term investment and mobilize private capital for infrastructure and sub sovereign financing. The Joint Press Statement promotes capital market reforms to expand long term investment and specifies policy measures to mobilize private capital for infrastructure, develop a deeper and more liquid corporate debt market, and create instruments for sub sovereign governments to raise financing. It also envisions technical collaboration between the Ministry of Finance and the U.S. Treasury to design and implement these reforms and continued bilateral engagement on economic issues.