Prime Minister Manmohan Singh arrives in Frankfurt en route to G-20 Summit

Frankfurt: In the shadow of the economic crisis in the Eurozone, Prime Minister Manmohan Singh arrived in Frankfurt today en route to attend the seventh G-20 Summit the Mexican resort town of Los Cabos on June 18.

Ahead of the visit, PM had voiced concern that continuing problems in the Eurozone will further dampen global markets and adversely impact India's own economic growth.

He also said that the need to revive global growth should be an issue of immediate concern which must be addressed by world leaders.

Observing that G-20 Leaders will meet once again in the shadow of the economic crisis in the Eurozone and a "faltering" global economy, he said the situation in Europe is of particular concern as it accounts for a significant share of the global economy and is also India's major trade and investment partner.

"Continuing problems there will further dampen global markets and adversely impact our own economic growth. It is our hope that European leaders will take resolute action to resolve the financial problems facing them," he said.

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He emphasised on the need to revive global growth.

"It is imperative that the G-20 countries work in coordination to implement policies that promote sustained growth. India has been pursuing this objective in its capacity as the Co-Chair of the Working Group on the 'Framework for Strong, Sustainable and Balanced Growth'.

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"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.

Manmohan Singh will also visit Brazil to attend the Rio20 Summit in Rio de Janeiro.

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On the Earth Summit in Rio, the Prime Minister said the cardinal principles of Rio 1992 must not be diluted, particularly the principle of common but differentiated responsibilities as well as equity.