The declaration said that it recognised the impact of the continuing crisis on developing countries, particularly low income countries.
Prime Minister Manmohan Singh on Tuesday said his government is determined to take "tough" decisions, including on controlling subsidies, to reverse the expansion of the fiscal deficit, even as he expressed confidence of bringing back the rhythm of high growth of 8-9 per cent per annum.
The pledge was made at an informal meeting of Braliz, Russia, India and China leaders presided over by Prime Minister Manmohan Singh ahead of the opening of the seventh G-20 Summit in this Mexican resort town. Besides India, the other nations in BRICS are China, Russia, Brazil and South Africa.
Setting the tone for the crucial G-20 Summit, Prime Minister Manmohan Singh today said the world economy is in "deep trouble" and hoped the grouping of developed and developing countries will come up with constructive proposals to pull the world out of this crisis.
The possibility of a meeting between United States President Barack Obama and Prime Minister Manmohan Singh during the G-20 Summit in Los Cabos, Mexico, is not being ruled out, days after the two leaders agreed to work together to address the faltering global economy and the painful Eurozone crisis.
The country's economic growth rate slipped to 5.3 per cent in the fourth quarter of 2011-12, lowest in nearly 9 years due to poor performance of the manufacturing and farm sectors.
Promising all efforts to get the Lokpal Bill passed in the current session of Parliament, Prime Minister Manmohan Singh on Saturday expressed confidence that it will be brought to the Cabinet on Sunday.
Prime Minister Manmohan Singh on Saturday said the Kudankulam Nuclear Power plant, whose commissioning has been stalled due to protests, cannot be allowed to remain "idle" when the nation has sunk an amount of Rs 14,000 crore on the project.
Prime Minister Manmohan Singh left Moscow for home on Saturday after concluding a three-day visit during which he attended the 12th annual Indo-Russian summit and witnessed the inking of five agreements, including one for technical assistance in joint production of 42 more frontline Sukhoi-MKI 30 jets. Dr Singh, who held talks with President Dmitry Medvedev, cleared the uncertainty over the Kudankulam nuclear power project on Friday.
Prime Minister Manmohan Singh has raised with Russia the issue of delay in the delivery of Admiral Gorshkov aircraft carrier to the Indian Navy, saying it was important for India that the ship arrives in time. The Gorshkov issue was raised by the prime minister during the 12th Indo-Russian Summit talks with President Dmitry Medvedev at the Kremlin on Friday. Foreign Secretary Ranjan Mathai told newsmen that both India and Russia were clear that they would take action.
It also warned of its readiness to use its "existing counter measures" if they fail to enforce transparency measures.
The Prime Minister also warned that 'prolonged' uncertainty and instability in Europe will hurt other countries too and suggested that the IMF can help rescue the situation.
Agreeing to resist protectionism in global trade, India and the European Union announced reaching the final stage of a trade and investment opening pact, billed as one of the largest bilateral agreements.
As India and Russia set an ambitious trade target of $20 billion by 2015, Prime Minister Manmohan Singh has asked industry captains from both sides to work for enhancement of economic relations to take them to the level of close political ties shared by the two countries.
A joint declaration adopted at the end of the summit talks between Prime Minister Manmohan Singh and Russian President Dmitry Medvedev said Russia supported India's full membership in the Shanghai Cooperation Organisation.
India and Russia have flagged the urgent need to squarely meet the challenges posed by proliferation of nuclear weapons and its possible link to terrorism. The two countries warned how the possibility of atomic weapons falling into the hands of rogue elements posed a threat to international peace and security and undermined security of states.
Prime Minister Manmohan Singh on Monday said 'existing instrumentalities' should be invoked to put pressure on countries that continue to encourage terrorist activities, a veiled reference to the need for focused strategies to combat terrorism emanating from Pakistan.
"The people of India deeply love you." This was how Prime Minister Manmohan Singh spoke of President George W Bush while praising him effusively after their 40-minute meeting at the Oval office in White House, flagging his 'important and historic' role in forging several bilateral initiatives including the civil nuclear deal.
The two leaders discussed the status of the deal and a range of issues covering Indo-US strategic partnership at the Oval Office in the White House. The meeting slated for 5.10 pm local time (2.40 am IST) started 20 minutes late as Bush was engaged in talks with presidential candidates Barack Obama and John McCain on the financial crisis in the US.
Giving an economic content to his visit to the US in the midst of high-profile diplomatic engagements, Prime Minister Manmohan Singh met World Bank President Robert Zoellick and top American CEOs in the backdrop of the financial meltdown that has kept the Bush Administration on its toes.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances