India to Pitch for ‘Durable, Balanced and Sustainable’ Growth at G20 Summit: PM

Ahead of his departure for Canada, Prime Minister Manmohan Singh has said that India will pitch for ‘durable, balanced and sustainable’ global growth at the G20 summit in Toronto, said media reports.

“The (June 26-27) summit is expected to deliberate on a framework for strong, sustainable and balanced growth,” Manmohan Singh was quoted as saying in a departure statement.

Singh said that the global recovery continued to be ‘fragile and uneven’, reports said.

“India will participate in this exercise and project our expectations from the global economic and financial system, and the kind of global growth processes that we seek,” he was quoted as saying.

“We will highlight the importance of development issues in the future work of the G20,” he was quoted as saying while lauding the success of G20 in managing global recovery.

“To meet our ambitious development targets, it is necessary that the global economy continue to recover in a stable and predictable manner,” he was quoted as saying.

It may be mentioned that the theme of the two-day Toronto Summit is ‘Recovery and the New Beginning’.

Singh laid stress on country’s need for investment and capital flows and rooted for ‘an open and rule-based trading system that does not succumb to protectionist tendencies’, reports said.

“The challenge of the Toronto summit will be three-fold – to ensure that global economic recovery is durable, balanced and sustainable; to calibrate exit strategies in the light of growing concerns over expansionary fiscal policies; and to focus on medium and long-term structural issues relating to governance issues.”

The Prime Minister said that ‘relations with Canada are becoming broad-based and there is a mutual desire on both sides to impart fresh vigour and vitality to them’, said reports.

“India and Canada share the same values and there are many opportunities for us to contribute to each other’s welfare and prosperity,” he was quoted as saying.

India and Canada are also expected to sign a host of agreements, including a bilateral civil nuclear cooperation pact.

(Based on internet reports)
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