This Article is From Jul 09, 2009

PM's poser to the rich at G8 summit

PM's poser to the rich at G8 summit

AFP image

L'Aquila, Italy:

India and its G 5 - Brazil, South Africa, China and Mexico  - partners gave a strong message to the world's leading industrialized nations at a meeting in Italy.

Dr Manmohan Singh, Prime Minister told G8 countries that emerging economies must be included in approaches to win the fight against the global financial crisis.

Dr Singh also added that developing countries have borne the brunt of the financial crisis even though it originated in developed nations.

India at G8

  • India, Brazil, South Africa, China and Mexico call for inclusive approach
  • Developing countries have borne brunt of financial crisis

The Prime Minister also called for restructuring the international system and repeated India's claim to a permanent seat in the UN Security Council.

"There was also considerable discussion on the need to reform international, not just financial institutions, but also the institutions of international governance. This is a recurrent field," said Shivshankar Menon, Foreign Secretary.

On Thursday, France also strongly backed India's bid.

"If we want the Security Council to remain a legitimate place for handling peace and security crisis in the world, it is absolutely necessary to have India as well as couple of others as permanent members," said Jerome Bonnafont, French Ambassador to India.

The G 5, as the group of developing countries have come to be called, are making their 5th consecutive appearance at the summit.

Even though they are still invited guests, their presence at the exclusive annual club is a tacit admission that the world's major problems cannot be fixed without inputs from the developing world.

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