PM 2

India strongly favours differentiated responsibility
placing more burden on the advanced countries for the carbon
emissions over decades and fund technological innovations to
help poor and emerging countries.

The basic groundwork for the Pittsburgh Summit was made
at the meeting of the G-20 Finance Ministers and Central Bank
Governors early this month in London which decided they will
work to achieve high, stable and sustainable growth.

That would require orderly re-balancing in global trade,
removal of domestic barriers and promotion of efficient
functioning of global markets.

India is expected to utilise the opportunity to press for
changes in the international financial architecture through
reforms of the global financial institutions like the IMF and
World Bank so that the voice of poor and emerging economies
get heard.

The Prime Minister is also expected to voice the demand
for reforms of international governance by seeking reforms of
institutions like the United Nations Security Council so that
countries like India can get a permanent seat in the powerful
panel.

Obama has already made his plans clear when he said he
would work with G-20 leaders to strengthen the rules governing
financial markets and ensure that the global economic crisis
that engulfed the world just a year ago does not happen again.
(MORE) PTI