"I think these reforms (started by the Modi Government) are significant and meaningful. I think, it is also important to keep in mind that there is a fair amount of work to be done," a senior Treasury official told a select group of reporters ahead of Lew's visit.
    
Lew would travel to India next week to participate in US-India Economic and Financial Partnership in New Delhi on February 12. He would also visit Mumbai on February 11.
    
This is the first Cabinet-level travel after the last week's successful India visit of US President Barack Obama. Speaking in condition of anonymity, the senior Treasury official observed that Prime Minister Narendra Modi-led government has articulated a significant reform platform.
    
"I think they are making meaningful progress in reforming functioning of the economy in a number of different directions," the official said.
    
In India, Lew would meet his Indian counterpart Arun Jaitley in New Delhi. Both will co-chair the US-India Economic and Financial Partnership meeting.
    
"In India, discussions will address India's reform efforts, the importance of greater opening of India's economy, and ways our two countries can work together to promote financial reform and tax cooperation," the official said.
    
"For India, faster growth, deeper financial markets, and greater openness to trade and foreign investment promise to raise incomes, reduce poverty and bring many more Indians into the global middle class, while creating new customers for US goods and services," the senior Treasury official said.

"It's the challenge of infrastructure that something we both share and we will be discussing various strategies for supporting infrastructure investment moving forward," the official said.
    
There would also be discussions on financial regulations, openness, growth outlook and monetary policy. "So it is really a broad ranging dialogue that will unearth opportunities for deeper integration and deeper partnership going forward," the official said.
    
On February 11, Lew will be in Mumbai for meetings with Reserve Bank of India Governor Raghuram Rajan and will also meet Indian business and financial leaders.
    
The next day on February 12, Lew will be in New Delhi to co-chair the fifth annual meeting of the US-India Economic and Financial Partnership meeting with Finance Minister Jaitley.
    
"This meeting will focus on the state of the economy and outlook in India and the United States, as well as the Indian government efforts to advance economic reforms, encourage investment, and boost growth," the Treasury had said in a statement early this week.
    
"The United States and India recognise the importance of expanding bilateral economic engagement, noting the rapid growth of US-India economic ties and the increasing range of global macroeconomic and financial issues on which the United States and India cooperate," the official Treasury statement said.

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