US to assist India in capital market reforms
Joint statement of US-India Investment Initiative discussed ways of mobilising private capital to fund infrastructure and deepen corporate bond market
New Delhi: United States and India on Wednesday discussed ways of pushing forward capital market reforms so as to mobilise more private funds in infrastructure and deepen the corporate bond market.
Ajay Tyagi, additional secretary at the Department of Economic Affairs, Ministry of Finance and Ramin Toloui, Assistant Secretary for International Finance, US Department of Treasury discussed in details the capital market reforms at the second meeting of the US-India Investment Initiative.
"The US-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," the joint statement said.
"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," it said.
"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 US-India Economic and Financial Partnership Dialogue in Washington, DC in 2016," it added.
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