Geithner calls off India trip, meeting with finance minister

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"Finance Minister Mukherjee has been an effective ally in the G-20 and a strong partner in deepening the economic relationship between the United States and India,” the statement said. “The Treasury Department looks forward to rescheduling the Partnership meeting in the months ahead.”

Mukherjee was minister of defense in 2005 when the United States and India signed a 10-year agreement calling for closer military ties, including joint weapons production and cooperation on missile defense. As minister of external affairs three years later, he signed a nuclear cooperation deal with the Bush administration allowing India to purchase nuclear fuel and technology from the United States.

And as finance minister since 2009, he has paved the way for closer trade and economic ties as part of the Obama administration's “pivot” to Asia.