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India for continuance of stimulus package, reform of intl FIs

business Updated: Sep 24, 2009 12:16 IST

India will seek continuance of the stimulus package that was devised to get the global economy out of the worst crisis since the Great Depression of the 1930s at the G-20 Summit in Pittsburgh on Friday pitching at the same time strongly against any attempts at protectionism and advocating reforms of the international financial institutions.

Prime Minister Manmohan Singh, who leads the Indian delegation at the summit being hosted by President Barack Obama, will voice developing countries views that the advanced countries should return to the trend growth and stabilisation of the banking and financial sectors as it affected exports, capital flows and investment of the emerging economies.

Planning Commission Deputy Chairman Montek Singh Ahluwalia, who is India's sherpa, National Security Adviser M K Narayanan, Finance Secretary Ashok Chawla are among the members of the Indian delegation which attending the summit that which will be attended by world leaders including British Prime Minister Gordon Brown, German Chancellor Angela Merkel, French President Nicolas Sarkozy among others.

The summit represents 90 per cent of the world's GDP, 80 per cent of the world trade and two-thirds of humanity.