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G-20 focus: Strong, sustainable and balanced growth
CB Bureau, New Delhi, November 10, 2010
‘The theme of the Seoul summit is “Shared Growth beyond the Crisis”. Given the vast development challenges we face, it is in India's interest to have an open, stable and rule-based international economic environment, whether in the field of trade, investment flows, technology transfers or open markets,’ Prime Minister Manmohan Singh said in an early morning statement today, before his departure to Seoul to attend the fifth G-20 Summit.

Starting on November 11, the summit is scheduled for two days.

The prime minister said he would encourage the G-20 to focus on the ‘development agenda’, which is being introduced for the first time in Seoul. ‘We must also give a thought to how we can leverage global imbalances to bridge the infrastructure gap between rich and poor nations,’ Singh added.

Singh confirmed that the summit would also consider the new Basel-III norms and look at issues of regulatory reforms of the financial sector.

‘This is a key area of work, and we must guard against complacency in the pursuit of a strong financial regulatory framework and effective supervision,’ said Singh.

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