G20 Summit: PM arrives in Russia

September 04, 2013 05:47 pm | Updated June 02, 2016 09:13 am IST - St.Petersburg

Prime Minister Manmohan Singh arrived in St.Petersburg on Wednesday to attend the eighth G20 Summit during which he is expected to push for a coordinated plan to avoid disruption in India and other developing economies by imminent phasing out of fiscal stimulus by the US.

While the dispute between Russia and the US over the conflict in Syria is likely to overshadow the two-day summit starting tomorrow in the Russian city, splits between emerging markets and the US over Federal Reserve’s winding down of stimulus and the slowing growth of India and other four BRICS countries are expected to remain in focus.

Brazil, India, Russia, China and South Africa - grouped in the informal BRICS bloc seen as an alternative economic powerhouse - all go into the meeting experiencing slowing growth, embattled currencies and huge capital outflows.

In a statement before leaving for the Summit, Dr. Singh called for an “orderly exit” from unconventional monetary policies being pursued by the developed world for the last few years to avoid damaging growth prospects of the developing world.

Dr. Singh, who has attended all the previous G20 summits since the first meet in Washington in 2008, is due to return home on Saturday evening.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.