India today sought comprehensive reform of international financial institutions to enable enhanced capital flows and infrastructure investment in the developing markets.<br/><br/>Addressing the 14th G-15 Summit in Tehran, the External Affairs Minister S M Krishna said that efforts should continue for comprehensive reform of the international financial institutions to make them more inclusive.<br/><br/>Mr Krishna also said, the developing nations must work together to ensure a balanced outcome of the Doha Round which addresses the concerns of the developing countries.<br/><br/>Krishna cautioned that it may appear that the immediate global economic and financial crisis is behind us, but it was early to say if the world was on a long term recovery path.<br/><br/>He stressed on the need for stable capital flows to the developing markets, appropriate macro-economic adjustments and avoiding complacency in the area of financial sector reforms.<br/><br/>Earlier, on the sidelines of the summit, the External Affairs Minister S M Krishna on Sundaymet Iranian Parliament speaker Ali Larijani and exchanged views on regional and mutual concern including situation in Afghanistan.<br/><br/>Mr S M Krishna told that terrorism is common challenge for both the countries and our strategic partnership with Afghanistan will continue. <br/><br/>On relations with Iran, he said India looks forward to strengthening relations with Iran and stressed that though his visit is related to G-15 summit, it is also bilateral in nature.<br/><br/>The Iranian Parliament speaker Ali Larijani expressed the happiness on growing economic relations between India and Iran. <br/><br/>The External Affairs Minister also visited the Gurudwara in Tehran and met members of the Indian community on Sunday.
News On AIR | May 17, 2010 6:11 PM
India seeks comprehensive reform of international financial institutions