India ready to help overcome global economic crisis : PM

New Delhi, June 15 (PTI) Leaving for Russia on his first
foreign visit after assuming office for a second term, India's
Prime Minister Manmohan Singh Monday said India is ready to
play its part in coordinating global efforts to overcome the
economic slowdown.

"India is among the fastest growing BRIC economies, and
we are ready to play our part in coordinating international
efforts to overcome the ongoing financial and economic
slowdown," he said in statement before his three-day visit to
Russia during which he will meet several leaders including
Pakistan President Asif Ali Zardari.

Singh, who will be attending the Brazil-Russia-India-
China (BRIC) and Shanghai Cooperation Organisation (SCO)
Summits, said the BRIC grouping has the potential to lead
global economic growth.

"In fact, global economic recovery is closely linked
to the success of BRIC economies".

During his stay in the Russian city Yekaterinburg, the
Prime Minister will meet Zardari, marking the first contact at
top level between India and Pakistan since the 26/11 Mumbai
terror attacks.

Referring to the SCO Summit which he would attend for
the first time, Singh said "my decision to attend the Summit
is a reflection of the high regard we have for Russia's
Presidency of the SCO."

Singh said the decision to attend the SCO Summit also
reflected India's desire to "intensify our engagement with
countries of our extended neighbourhood in Central Asia.

Observing that there were several issues which
concerned both India and the SCO, he said these included fight
against terrorism and extremism and cooperation in areas of
energy security, infrastructure development, agriculture,
transportation, science and technology and education.

"India and the SCO stand to gain considerably from
each other through such cooperation," he said.

Singh said during his visit, which was at the
invitation of Russian President Dmitry Medvedev, he would look
forward to meet and exchange views with world leaders present
in Yekaterinburg.

On the BRIC Summit, he said the four countries
together account for 40 per cent of the world population and
40 per cent of the global GDP.

"The BRIC countries have a role to play in promoting
the principle of multilateralism in international affairs, and
in the reform of the institutions of global governance,
including the United Nations, to reflect contemporary
realities," he said.

The Prime Minister said that from these points of
view, the convening of the first standalone Summit of BRIC was
a "significant development". Its main agenda is expected to
include the global financial crisis, terrorism and food
security.

A significant aspect of the visit in Indo-Pak context
would be a meeting between Singh and Zardari on the sidelines
of the two Summits which may break the ice in bilateral ties.

Singh and Zardari will have a brief interaction during
which they are expected to talk about bilateral ties and the
way forward.

This will be the first highest-level contact between
the two countries since the Mumbai attacks last year as India
has suspended dialogue till Pakistan takes "concrete" action
against those behind the strikes and dismantles the terror
infrastructure.

The meeting between Singh and Zardari, though informal
with no structured agenda, may lead to resumption of bilateral
dialogue at some level if the two leaders agree to it.

Earlier, Singh had said "there is no other alternative
but to pursue the path of dialogue... It is in our vital
interest to try again to make peace with Pakistan but it takes
two hands to clap."

Singh's attendance at the SCO meet will mark the
maiden participation by an Indian Prime Minister in the Summit
of the six-nation grouping in which India is an observer.

The SCO comprises Russia, China, Kazakhstan,
Uzbekistan, Turkmenistan and Kyrgyzstan. India, Pakistan, Iran
and Mongolia are Observers.

The BRIC Summit is expected to see the four nations
discuss issues relating to immediate reform of international
financial institutions. PTI