India’s view on protectionism supported by Brazil, Russia, China

October 6th, 2009 LONDON - Gulf countries have begun secret talks with China, France, Japan and Russia to replace dollar dealings for oil with a basket of currencies, a newspaper reported Tuesday. The basket includes the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for members of the Gulf Cooperation Council (GCC), The Independent reported.

September 29th, 2009 BEIJING - Russian Prime Minister Vladimir Putin will visit China Oct 12-14 to meet Chinese leaders and attend a Central Asian security summit, China's foreign ministry said Tuesday. Putin's visit was timed to coincide with the 60th anniversary of diplomatic relations between China and Russia, and with a council of heads of government of the Shanghai Cooperation Organization (SCO), ministry spokesperson Jiang Yu told reporters.

September 25th, 2009 PITTSBURGH - Prime Minister Manmohan Singh Friday told the G20 summit that the time was not ripe yet to withdraw the stimulus packages that were announced to stabilise the slowdown-hit global economy, as he raised India's concerns over protectionism. Addressing the plenary session of the G20 Summit here, the prime minister said the current global financial crisis required tackling the problems at the root to restore normalcy in the global economy.

September 25th, 2009 GENEVA - The World Trade Organisation Friday set up a panel to judge a dispute brought by Brazil against the US over orange juice imports. Brazil's complaint is similar to others brought against the US by various countries on different products, and pertains to Washington's method of calculating anti-dumping margins.

September 5th, 2009 LONDON - Finance ministers of the Group of 20 (G20) countries Saturday pledged to give India and other emerging economies a greater voice in the running of the International Monetary Fund (IMF) and other global financial institutions. In their final communiqu issued here after Sep 4-5 meetings of the group representing 80 percent of world GDP, the finance ministers pledged to implement reforms to the World Bank by Spring 2010 and the next IMF quota review by January 2011.

September 4th, 2009 LONDON - India is to invest up to $10 billion in the International Monetary Fund as part of a major thrust to wrest a greater say in the running of international financial institutions, Finance Minister Pranab Mukherjee announced Friday. "India has decided to invest up to $10 bn of its reserves in notes issued by the IMF," Mukherjee said after a meeting of the finance ministers of Brazil, Russia, India and China (BRIC) in London.

July 9th, 2009 L'AQUILA - Brazil has asked G5 countries to explore the possibility of using their own currency to settle trading accounts amongst themselves. The suggestion was made by Brazilian President Luiz Inacio Lula da Silva at a meeting of the G5 countries, comprising Brazil, China, India, Mexico and South Africa, during the G8-G5 summit in this quake-hit city in central Italy.

July 8th, 2009 ROME - Prime Minister Dr. Manmohan Singh arrived in Rome on a four-day visit on Tuesday to attend the G-8 summit.

July 8th, 2009 ROME - Unscathed by a reported hate campaign launched by Chinese intellectuals and civil society on a internet blogs and opinion columns on websites and other media outlets, Indian Government sources have played down the Chinese diatribe. "There are elements in China who have their own view on India's growth which is not necessarily the view of Beijing top government," said one source.

July 2nd, 2009 WASHINGTON - The International Monetary Fund (IMF) said Wednesday it will issue bonds for the first time in its 60-year history in an effort to win contributions from emerging economies like China, Brazil and Russia. The new money-making scheme comes as the IMF has dramatically boosted its role as an emergency lender during the global financial crisis, which has tipped the world into its first recession since World War II.

June 24th, 2009 LONDON - The Organisation for Economic Cooperation and Development (OECD) Wednesday said India was on course to achieving a 7.2 percent growth rate next year but said it was concerned about what it described as the country's increasing protectionism. The OECD said the Indian growth rate would dip to 5.9 percent this year before rising to 7.2 percent in 2010 - an upward revision of its previous forecast of 4.3 percent in 2009 and 5.8 percent the year after.

June 16th, 2009 Russia, China, others urge diverse monetary systemYEKATERINBURG, Russia — Brazil, Russia, India and China on Tuesday called for a more diversified international monetary system, but wrapped up their first full-fledged summit by avoiding any explicit criticism of the world's dominant currency, the U.S. dollar. The statement issued by the leaders from the so-called BRIC nations contained no reference to developing new reserve currencies to complement the dollar, which Russia had called for at a separate event earlier in the day.

June 15th, 2009 YEKATERINBURG - Indian Prime Minister Manmohan Singh arrived in the Russian city of Yekaterinburg Monday night to attend the first BRIC summit of Brazil, Russia, India and China and the summit of the six-nation Shanghai Cooperation Organisation (SCO). He will also be meeting Pakistan President Asif Ali Zardari Tuesday, in the first high-level contact between India and Pakistan since the 26/11 Mumbai attacks.

June 15th, 2009 YEKATERINBERG - India and China will hold the next round of talks on the boundary dispute Aug 7-8 in New Delhi, official sources said here Monday night ahead of Prime Minister Manmohan Singh's meeting with Chinese President Hu Jintao. Prime Minister Singh and President Hu will discuss a host of issues relating to bilateral relations, and the boundary dispute will also figure in the talks, highly placed sources said.

April 1st, 2009 LONDON - India is very clear about priorities. In the rush for being part of the high table it has not forgotten the developing world.