U.S. and India set set up new economic partnership

WASHINGTON Nov 24 (Reuters) - The White House said on Tuesday that the United States and India would establish a new economic partnership and that U.S. Treasury Secretary Timothy Geithner would travel to India for its launch early in 2010.

Echoing the strategic economic dialogue Washington already has in place with China, the White House said the initiative would aim to strengthen engagement on macroeconomic, financial sector, development and infrastructure related issues.

U.S. President Barack Obama, hosting his first official state visit since taking office in January, earlier met with Indian Prime Minister Manmohan Singh and said that the world's largest democracy would be a key source for U.S. growth.

"India will play a pivotal role in meeting the major challenges we face today. And this includes my top economic priority: creating good jobs with good wages for the American people," he told a joint White House press conference. (Reporting by Alister Bull; Editing by Sandra Maler) ((+1-202-354-5820, email: alister.bull@thomsonreuters.com))