June 16, 2012 5:59 PM

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PM urges G-20 countries to work for reviving sustained global growth

The Prime Minister, now on his way to Mexico and Brazil, has urged G-20 countries to work for reviving sustained global growth. In his statement prior to his departure on an 8 day visit to the two countries, Dr. Manmohan Singh voiced concern over the continuing problems the euro zone and said it will further dampen global market and adversely impact economic growth.

He asserted that there is a need to revive global growth and he will focus on the development dimension in the G-20 deliberations. He said there is need to focus on investment in infrastructure as a means of stimulating growth.

The Prime Minister said this is essential as a world economy is facing the heat in the backdrop of Euro zone crisis. Dr. Singh made it clear that European leaders will have to take resolute action to resolve this crisis. The Euro crisis is affecting the global economic growth as it accounts for a major share of global economy and is also India's major trade and investment partner.

On the coordination on BRICS countries the Prime Minister said that the leaders of grouping have agreed to work with international community to ensure healthy economic recovery.

On the Earth Summit in Rio, the Prime Minister said the cardinal principles of Rio 1992 must not be diluted, particularly the principle of common but differentiated responsibilities as well as equity. The UN Conference on Sustainable Development is an historic opportunity to give meaningful content to paradigm of sustainable development.

The Rio+20 Conference is likely to debate complex and contentious issues such as green economy and Sustainable Development Goals. During his visit, the Prime Minister is expected to hold
separate meetings with Russian President Vladimir Putin, German Chancellor Angela Merkel, French President Francois Hollande, British Prime Minister David Cameron, Canadian Prime Minister Stephen Harper, Chinese Premier Wen Jiabao, Lankan President Mahinda Rajapaksa, Nepalese Prime Minister Baburam Bhattarai and other leaders.

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