“A strong political message needs to go out on April 2,” a senior official close to the development told HT as Air India flight AI 001 flew over Iran.
“Protectionism, regulatory direction and infusing liquidity back into the world's financial pipelines are issues that Prime Minister Manmohan Singh and his counterparts across the world will address.”
Four hours away, in London, finance ministers and leaders' “sherpas” would be carving out the details of how to bring the world back from an economic brink. Among the many points they would flesh out would be to see how economic growth, and through it jobs, can be revived. Getting credit to flow to businesses and bringing confidence back in the markets would be key.
In all of them, the overarching India response would be this: “As long as the procedure followed is democratic, we will go with it.”
On differences between nations — US-UK and Continental Europe or developed and developing economies — he said, “We are still in the process of discussing and trying to come on common ground. Else there won't be a G20 meeting.”