Syria is set to dominate the G20 summit that began in St Petersburg this evening, as the US and France look to bridge deep divisions with Russia over the use of military force against Damascus. AIR correspondent covering the summit reports that India is against military intervention in Syria, saying it would wait for the report from United Nations inspectors to fix culpability over the alleged use of chemical weapons by Syrian President Bashar al-Assad.
Although the formal agenda of the meeting of world leaders is geared towards world economic growth, the deteriorating situation in Syria and the debate over the need for an armed intervention look imminent. Following the surprise vote by UK lawmakers last week that barred the country from participating in any armed intervention in Syria, France and the US are the main countries calling for military action .However, Russia and China have repeatedly stood in the way of any attempts at securing UN Security Council backing for military strikes against the regime.
India has made it very clear that conditions can be created for an inclusive political dialogue leading to a comprehensive political solution, taking into account the legitimate aspirations of the Syrian people. On the reported use of chemical weapons in Syria, India consistently supported elimination of such weapons worldwide.
India today called for cautious approach by the major economies while framing unconventional monetary expansion policy to avoid the spill over effects that harm developing countries. It also advocated strengthening the Mutual Assessment Process to prevent such a situation.
Addressing the inaugural session of G-20 Summit in St. Petersburg, Russia the Prime Minister Dr. Manmohan Singh said sudden increases in cross border flows not only affect the exchange rate but also affect credit volumes and asset prices. Such flows led to excess leverage in the industrial countries before the global financial crisis. They are leading to stock market and exchange rate volatility in emerging markets today.
Pointing out that a stable external environment is necessary for restoring growth, Dr. Singh said that the G- 20 must send a clear signal of collective commitment to work together for the revival of growth, which is the only way of ensuring a sustainable growth in quality jobs. He said, fiscal consolidation is important for many countries and must remain a key medium term objective.
However, it must be pursued with realistic time paths, keeping in mind the current weaknesses in demand in many countries.
