Prime Minister Dr Manmohan Singh has called for an orderly exit from unconventional monetary policies pursued by developed world to avoid damaging growth prospects of developing nations. In his statement before leaving New Delhi for St. Petersburg to attend the G-20 summit, Dr Singh said the G-20 should focus on job creation and promote investment in infrastructure as a means of stimulating global growth.

Dr Singh said, such a move will create potential in developing countries to sustain higher growth in medium term. He said, though there are signs of growth in industrialized countries, there is also slowdown in emerging economies. Prime Minister said, it is important that G-20 encourages and promotes policy coordination among major economies to provide broad based and sustained global economic recovery and growth. Dr Singh said, he is looking forward to constructive discussions and decisions on these issues during the St Petersburg Summit beginning tomorrow.

An informal meeting of BRICS leaders will be held on the sidelines of the G-20 Summit to review progress in the implementation of decisions taken in their last summit at Durban in March this year.