 |
| Prime Minister Manmohan Singh meets French President Francois Hollande on the sidelines of the G20 summit in Los Cabos, Mexico, late Tuesday. Singh later arrived in Rio de Janeiro to attend Earth Summit |
Singh will join world leaders here to find ways of reducing poverty, advancing social equity and protecting environment in a sustainable manner.
Earlier, G20 nations ended a meeting in the Mexican resort Los Cabos endorsing the Indian stand that investment in infrastructure was critical for sustained growth, economic recovery, poverty reduction and job creation.
Singh has been pushing for long-term access to funds for infrastructure for developing countries. India has said it needs at least $1tn in the next five years in infrastructure funding.
He also has maintained that fiscal prudence and austerity in debt-laden countries must be matched by measured fiscal expansion by surplus nations.
This was endorsed by the leaders including Presidents Barack Obama of the US, Angela Merkel of Germany and Vladimir Putin of Russia and Chinese Premier Wen Jiabao in a document formally called the G20 declaration.
“Investment in infrastructure is critical for sustained economic growth, poverty reduction and job creation,” the declaration said, adding the recommendations made by multilateral development banks in this regard must be implemented.