India has said that though concerted action by the G-20 helped in dealing with the economic crisis, much more needs to be done to ensure strong, sustained and balanced recovery. The Finance Minister Mr. Pranab Mukherjee said that keeping international trade open and avoiding protectionism are among the immediate spheres for which coordination among G-20 countries is necessary. Mr. Pranab Mukherjee said in his key note address at the conference on international cooperation in times of global crisis in New Delhi today. He said, apart from this regulatory reforms should be speeded up to ensure financial stability without affecting prospects of growth and reforms in the governance of international financial institutions. He said the governments will have to build domestic political support for international policy coordination for more optimised global outcome.The Finance Minister Mr. Pranab Mukherjee said that the financial crisis of 2007-09 has exposed the fragility of existing global financial and economic institutions and the limitations of the existing micro-economic policy. He said that this has given an opportunity for a new thinking in the world of Finance and globalisation.The Finance Minister said that in the post crisis scenario, the G-20 countries will have to work together to support well functioning international economy. He said they will need to coordinate policy action for balance and sustainable growth.