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This story is from November 9, 2005
John Snow for more financial sector reforms
US treasury secretary John Snow will discuss opening up of the insurance and pension sector in India.
NEW DELHI: US treasury secretary John Snow will discuss an array of issues, including opening up of the insurance and pension sector in India with finance minister P Chidambaram on Wednesday.
They will also discuss progress in Doha round of discussion under the World Trade Organisation (WTO).
US investors are keen to invest in the Indian financial sector.
In a meeting with foreign investors, US ambassador Thomas Mulford had aired the investors' disappointments regarding government's decision of not to increase the foreign direct investment limit in the insurance sector from existing 26% to 49%.
...
The US government also wants India to open up the pension sector which is being opposed by the Left parties.
In the meeting on Wednesday, both India and US are also likely discuss the experiences of pension reforms, pension products development in US and strengthening of regulatory system for this sector.
Snow and Chidambaram will also discuss the issues regarding capital markets. They will discuss strengthening of supervision and surveillance mechanism and the US experience.
The delegates from both the countries will also discuss development of bond markets and securitised debt markets in the meeting.
They will also discuss progress in Doha round of discussion under the World Trade Organisation (WTO).
US investors are keen to invest in the Indian financial sector.
But the general perception of foreign investors is that Indian government is not opening the sector for them.
In a meeting with foreign investors, US ambassador Thomas Mulford had aired the investors' disappointments regarding government's decision of not to increase the foreign direct investment limit in the insurance sector from existing 26% to 49%.
...
...
The US government also wants India to open up the pension sector which is being opposed by the Left parties.
In the meeting on Wednesday, both India and US are also likely discuss the experiences of pension reforms, pension products development in US and strengthening of regulatory system for this sector.
Snow and Chidambaram will also discuss the issues regarding capital markets. They will discuss strengthening of supervision and surveillance mechanism and the US experience.
The delegates from both the countries will also discuss development of bond markets and securitised debt markets in the meeting.
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