PM to press G-20 to desist from protectionism

Concerned over protectionist steps taken by some countries in the wake of economic crisis, India will press the world's developed countries at the upcoming G-20 Summit to desist from trade barriers and ensure that flow of funds for development do not suffer.

At the Summit of developed and major developing countries on Thursday, Prime Minister Manmohan Singh is expected to underline the point that countries should not resort to protectionism to tackle their immediate problem of major economic crisis since World War II.

Briefing reporters on the Prime Minister's visit, Foreign Secretary Shivshankar Menon that India expected the London Summit to come out with clear and strong guidelines on measures for recovery of global economy and reform of the international financial institutions.

"Individually countries would also agree on stimulus packages for economic recovery. The one area we would like the progress is in the area of protectionism. We have seen some countries have taken steps which we see as protectionist," he said, adding India does not see as a remedy for the current situation.

The other issue on which India would like progress would be that the amount of resources available to international banks for development do not suffer as also the manner of spreading it.