Prime Minister Manmohan Singh today left Frankfurt for Los Cabos to attend the G-20 Summit in Mexico, which is taking place in the shadow of the economic crisis in the Eurozone. Singh arrived here last evening en route to the resort town in Mexico. Ahead of the visit, Singh had voiced concern that continuing problems in the eurozone will further dampen global markets and adversely impact India’s own economic growth.
Singh also said that the need to revive global growth should be an issue of immediate concern which must be addressed by world leaders. Singh will attend the seventh summit of the Group of 20 developed and developing countries(G-20) in Los Cabos and the Rio+20 Summit in Rio De Janeiro in Brazil. Observing that G-20 Leaders will meet once again in the shadow of the economic crisis in the Eurozone and a “faltering” global economy, Singh said the situation in Europe is of particular concern as it accounts for a significant share of the global economy and is also India’s major trade and investment partner.
“Continuing problems there will further dampen global markets and adversely impact our own economic growth. It is our hope that European leaders will take resolute action to resolve the financial problems facing them,” he said. 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.
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