Sunday ET: Eurozone crisis to hurt India: Manmohan Singh

On Board PM’s Special Aircraft: Prime Minister Manmohan Singh on Saturday voiced concern over a deepening eurozone crisis adversely impacting India and stressed the need to focus on investment in infrastructure as a means to stimulate growth.

Europe is one of India’s major trade and investment partners and “continuing problems there will further dampen global markets and adversely impact our own economic growth”, Singh said as he left for an eight-day tour of Mexico and Brazil to participate in the seventh summit of the Group of 20 developed and developing countries in the resort town of Los Cabos and the Rio+20 environment summit in Rio de Janeiro.

“I will stress the need to ensure primacy of the development dimension in G-20 deliberations and the need to focus on investment in infrastructure as a means of stimulating global growth,” he said. Meanwhile, senior officials accompanying the PM said they don’t expect any breakthrough from the G-20 summit, which takes place as Europe struggles to contain its debt crisis, a day after the Greek elections.