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India keeps G-20 expectations low

Indicating that New Delhi had low expectations regarding the Group of 20 summit in Mexico that starts on Monday, a senior Indian official noted that the G-20’s record had been “patchy.” In recent years the G-20 has not provided an impetus to global growth and has done little when it comes to development.

world Updated: Jun 16, 2012 22:49 IST
HT Correspondent

Indicating that New Delhi had low expectations regarding the Group of 20 summit in Mexico that starts on Monday, a senior Indian official noted that the G-20’s record had been “patchy.” In recent years the G-20 has not provided an impetus to global growth and has done little when it comes to development.

The high point of the G-20 was in 2009 in London, the official indicated, just after the Lehman Brothers crisis. New Delhi also tends to rate the accomplishments of the Pittsburgh summit highly as well.

India did not expect anyone at the G-20 to ask Prime Minster Manmohan Singh about the slowdown in the country’s economic growth rate. “There isn’t much steam in the rest of the world either,” he said. More to the point, this is not the sort of topic normally raised among heads of state or government at the summit level.

All the BRICS countries – a reference to the emerging economies of Brazil, Russia, India, China and South Africa – have had “their ups and downs.” The BRICS will be holding a meeting before the formal G-20 summit, hosted by India which holds the BRICS chair this year.

The BRICS will be looking closely at the eurozone crisis and their discussion will be coloured by events in Greece which goes for general elections on Sunday.