Prime Minister Manmohan Singh arrived in Cannes in this French coastal resort to attend the crucial summit of world’s 20 powerful economies (G-20), saying difficult decisions are needed swiftly to address the crisis in Eurozone and elsewhere.
Government sources said the G-20 faces a big test in ensuring that concrete steps are taken for recovery of the global economy.
The sources said that no country in the 17-nation Eurozone has made a request bilaterally to India to chip in to help it tide over the crisis.
India has already said it was willing to join any multilateral effort to resolve the crisis.
Singh, who will be at the G20 summit for the sixth consecutive time since it was first hosted by the US in 2008, is also likely to push through India’s agenda for voluntary exchange of tax information to curb black money.
In a statement in New Delhi before departure, Singh said the twin summits of the European Union and Eurozone a few days ago have helped to restore a measure of confidence in the markets but much more needs to be done.
“It is imperative that the difficult decisions needed to address the economic challenges in Europe and elsewhere are taken swiftly,” Singh said.