The Prime Minister Dr. Manmohan Singh has called for reforming the institutions of global and economic governance to sustain growth. Before leaving for St. Petersburg to attend the G-20 Summit, Dr. Manmohan Singh hailed the Russian proposal of paying personal attention to these issues this year particularly through a new financing for investment initiative.

Looking forward to constructive discussions on these issues in the summit, Dr. Singh asserted that he will emphasise over the need for an orderly exit from the unconventional monetary policies being pursued by the developed world. This he said is important to avoid the damaging growth prospects of the developing world. He said, New Delhi has introduced several reform measures and taken steps to strengthen micro-economic stability and to stablise rupee. The Prime Minister added that steps have also been taken to create a more investment friendly environment and create a stable and support to external economic environment to revive economic growth.

Dr. Manmohan Singh will reach St.Petersburg the venue of the summit later this evening. Our correspondent covering the visit reports that the main theme of the summit is starting a new cycle of growth through quality jobs and investment, trust and transparency and effective regulation.