India has a 'lot at stake' at G20 summitSeptember 25th, 2009 PITTSBURGH - A two-day summit of leaders of 20 leading global economies opened here amid calls by developing countries such as India to have a key role in restoring normalcy in the global financial system and overcoming the current economic downturn. While Prime Minister Manmohan Singh, who arrived here Thursday via Frankfurt, has already said India had much to offer in terms of finding a solution to the financial crisis, US President Barack Obama feels America alone cannot resolve all problems and there must be a global consensus.
G20 leaders set for summit on financial crisis, regulationSeptember 24th, 2009 PITTSBURGH - As G20 leaders converged here for their third summit, a major consensus that has emerged is economies like India have a key role to play in restoring normalcy in the global financial system and to overcome the current economic downturn. While Prime Minister Manmohan Singh has already said India had much to offer in terms of finding a solution to the financial crisis, US President Barack Obama feels America alone cannot resolve all problems and there must be a global consensus.
India goes to G20 with confidence, will oppose protectionism: PMSeptember 23rd, 2009 NEW DELHI - Underlining India's confidence about its economic future and prospects of global growth which had been dented by the meltdown, Prime Minister Manmohan Singh Wednesday called for reform of international financial bodies and opposed all forms of protectionism on the eve of the G20 summit in Pittsburgh. "Even though our economic growth rate has slowed to 6.7 percent in 2008-09, India approaches the Pittsburgh summit with a sense of confidence," Manmohan Singh said in a statement before leaving here for Pittsburgh.
G-20: India to seek greater role in managing global economySeptember 23rd, 2009 PITTSBURGH - As the leaders of the world's 20 largest economies gather here Thursday to review their efforts to stem global recession, India is expected to pitch for a more proactive role in the management of the global economy. As Prime Minister Manmohan Singh who arrives here put it before embarking for the summit, "It is necessary for India to engage in the management of the world economy because we have a lot at stake, and a lot to contribute." He will also "convey India's interest in seeing the earliest possible return to trend growth and stabilisation of the banking and financial sectors in the advanced economies, because this directly affects our exports, capital inflows and investment."
Having weathered the global meltdown much better than others, a confident India is also expected to seek reform of international financial bodies and forcefully oppose all forms of protectionism that may affect global economic recovery.
At G20, India to pitch for reform of global financial bodiesSeptember 19th, 2009 NEW DELHI - India will make a pitch for reforms of world financial institutions and concrete steps to mitigate the global crisis when Prime Minister Manmohan Singh participates in the G20 summit of major and emerging economies in Pittsburgh Friday. India will focus on the need for reforms of global financial institutions to reflect ground economic realities as it exist today, Foreign Secretary Nirupama Rao told reporters here Saturday in a curtain-raiser briefing ahead of Manmohan Singh's two-day visit to Pittsburgh starting Thursday.
No adverse impact on flow of capital to India: AhluwaliaSeptember 14th, 2009 NEW DELHI - India is concerned about protectionism in the global financial markets in the guise of regulation but does not see any adverse impact on the inflow of overseas funds, Planning Commission Deputy Chairman Montek Singh Ahluwalia said Monday. "We are concerned that in the guise of improving regulations, they should not be putting in place rules that end up discriminating against developing nations, Ahluwalia said on the margins of a conference on the upcoming G20 Summit in Pittsburgh.
Financial imbalance major cause of meltdown: Lord DesaiJuly 20th, 2009 NOIDA - The financial imbalance in the world economy is one of the major causes of the current global meltdown, according to noted economist Lord Meghnad Desai. The message of Desai, Professor emeritus of London School of Economics, was read out at the brainstorming session organised by the Global Economic Forum (GEF) here Monday on After-effects of financial meltdown: World economy five years ahead.
US to host next G-20 summit in Pittsburgh Sep 24-25May 29th, 2009 WASHINGTON - The leaders of the world's 20 biggest economies
including India will gather in Pittsburgh, an icon of America's economic
renewal, Sep 24-25 for the next G-20 summit. President Barack Obama will host leaders from 20 countries which represent
85 percent of the global economy to discuss ways of recovering from the
global economic and financial crisis, the White House announced Thursday.
US Steel loses $439 million in 1Q as recession weakens steel demand, pricesApril 27th, 2009 US Steel posts 1Q loss as demand dropsPITTSBURGH — United States Steel Corp. says it lost $439 million in the first quarter as the recession pinched demand for the metal.
India for regional approach to meltdown at ASEAN meetApril 9th, 2009 NEW DELHI - Ahead of the ASEAN and an East Asia summit, India Thursday underlined the need for developing regional synergies to deal with the global financial crisis of 'unprecedented dimensions'. Commerce Minister Kamal Nath will represent India at the its summit meeting with 10-nation Association of South East Asian Nations (ASEAN) to be held at Pattaya in Thailand Saturday.
India warns developed countries against protectionismMarch 4th, 2009 NEW DELHI - India Tuesday warned against the dangers of protectionism and asked developed countries not to stop the flow of funds to developing countries due to the global economic downturn. 'Developed countries should not resort to protectionism to resolve the crisis,' External Affairs Minister Pranab Mukherjee, who is also acting finance minister, told reporters here when asked about the impact of global financial meltdown on developing countries.
'Global meltdown, Mumbai attacks reduced foreign tourist arrivals'February 24th, 2009 NEW DELHI - The global meltdown, coupled with the Mumbai terror attacks, considerably impacted the foreign tourist arrivals in India and their number rose only 5.56 percent last year against the expected growth of 14.56 percent, the Rajya Sabha was informed Tuesday. 'The global meltdown has affected those countries that are our primary source of tourist arrivals.
'Infogen Global's closure not due to slowdown'February 9th, 2009 KOLKATA - The closure of city-based web development, designing and services company Infogen Global has nothing to do with the global economic meltdown, West Bengal IT Minister Debesh Das said here Tuesday. 'The company did not close down due to the financial meltdown.
Sri Lanka seeks India's expertise in strengthening tourismJanuary 13th, 2009 NEW DELHI - Sri Lanka Wednesday sought India's help in strengthening tourism to meet the challenges posed by the global meltdown. The issue was discussed in a meeting between Tourism Minister Ambika Soni and her Sri Lankan counterpart Milinda Moragoda, who also expressed keenness to participate in the travel marts organised by India, including the Great Indian Travel Bazar to be held in April.
Tourist arrivals up despite global meltdown, terror attacksJanuary 11th, 2009 NEW DELHI - The global meltdown and the terror attacks, especially the 26/11 Mumbai strike, has had no impact on foreign tourists' arrival in India as an estimated 5.37 million travellers came to the country in 2008, a statement issued by the tourism ministry said Monday. According to the latest tourism ministry figures, an estimated 5.37 million tourists came to India as compared to 5.08 million in 2007.
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