G-20-INDIA 2 LT

From India’s point of view there is a whole question
of reform of the international financial architecture, the
envoy said.

Prime Minister Singh is leading Indian delegation to
the summit of top 20 economies which account for more than 85
per cent of the global economy.

"The G-20 meeting in Pittsburgh will review the
progress that has been made with regard to the international
economic crisis," Shankar said, giving her preview of the
Pittsburgh Summit.

The envoy said Finance Minister of the G20 who met in
London feel that there are signs that the crisis is bottoming
out and that eventually countries may have to begin to see how
they would phase out some of the extraordinary measures that
they have put in place to expand demand but for the moment
there is need to continue these and some caution is warranted.

"This is going to be one of the key areas where the
leaders are going to share information and assessments and
decide on how they plan to proceed in the coming months,"
Shankar said, as top Indian officials led by the Planning
Commission, Deputy Chairperson, Montek Singh Ahluwalia,
continued deliberations with other G-20 members in Pittsburgh.

She said at the first G20 Summit our Prime Minister
had proposed that emerging developing countries should be
"included in institutions such as the Basal Committee on
Banking Supervision". "We are glad that these suggestions have
been taken on board and we have now been included in these
institutions," Shankar said. PTI