PM to push for radical reforms of global financial institutions

PITTSBURGH: India will push for radical reforms of the international financial institutions and continuance of the stimulus package to speed up the recovery of the crisis-ridden global economy at the G-20 Summit here tomorrow.

Prime Minister Manmohan Singh, who leads the Indian delegation at the summit being hosted by President Barack Obama, is also expected to make a strong pitch to the developed countries to shun protectionism in all its forms.

Singh is also likely to highlight the need for developed countries to bring about stabilisation of the banking and financial sectors as it affected exports, capital flows and investment of the emerging economies, Indian officials accompanying the Prime Minister said.

Planning Commission Deputy Chairman Montek Singh Ahluwalia, National Security Adviser M K Narayanan, Finance Secretary Ashok Chawla are among the members of the Indian delegation attending the summit.

British Prime Minister Gordon Brown, German Chancellor Angela Merkel, French President Nicolas Sarkozy and the new Japanese Prime Minister Yukio Hatoyama are among the world leaders who will address the Summit.

The leaders will share assessments on how they plan to proceed in the coming months to deal with the situation, Indian Ambassador to the US Meera Shankar told reporters here.