Indian PM leaves for Russia to attend G20 Summit

0 Comment(s)Print E-mail Xinhua, September 4, 2013
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Indian Prime Minister Manmohan Singh Wednesday left for Russia to attend the two-day G20 Summit at St. Petersburg.

In his departure statement, Singh stressed the need for an orderly exit from the unconventional monetary policies by developed nations so as to boost growth in developing countries like India, which are facing the adverse impact of significant capital outflows.

"I will emphasize in St. Petersburg the need for an orderly exit from the unconventional monetary policies being pursued by the developed world for the last few years, so as to avoid damaging the growth prospects of the developing world," he said.

"At the Summit, I will once again emphasize that the G20 should ensure primacy of the development dimension in its deliberations, focus on job creation, promote investment in infrastructure as a means of stimulating global growth and create potential in developing countries to sustain higher growth in the medium term," the prime minister added.

Singh, who will participate in the two-day Summit beginning Thursday, stressed that there was also an urgent need to reform institutions of global political and economic governance.

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