The G 20 Summit is held in Toronto.  The theme of the Toronto Summit is “Recovery and the New Beginning”. The coordinated policy actions taken by the G 20 since the first Summit in Washington in November 2008 have not only helped to prevent a crisis of the type the world saw in the 1930s but also contributed to global economic recovery. This is a sign of the G 20’s success. At the same time, we have to be conscious that the recovery is still fragile and uneven. New worrying signs have emerged in the Euro zone, said Prime Minister Dr.Manmohan Singh.

The challenge of the Toronto Summit will be three fold – to ensure that global economic recovery is durable, balanced and sustainable; to calibrate exit strategies in the light of growing concerns over expansionary fiscal policies; and to focus on medium and long-term structural issues relating to governance issues. As the Indian economy grows and further integrates with the international system, India has an increasingly direct stake in all these matters. To meet the ambitious development targets it is necessary that the global economy continue to recover in a stable and predictable manner. India needs investment and capital flows, as well as an open and rule based trading system that does not succumb to protectionist tendencies.