Sunday, April 5, 2009

Summit over, here are India’s G-20 gains

Gautam Chikermane, Hindustan Times
New Delhi, April 05, 2009

The royal receptions and grand speeches are fond memories now. With PM Manm-ohan Singh back home from the glitzy G20 meeting in London, it’s time for a reality check.

In the final analysis, the six pledges that the heads of G20 leaders signed on April 2, will mostly, not completely, work in India's favour. However, there’s a catch: these pledges are non-binding and hence some of them may just bring false hope.

The pledge to not repeat the “historic mistakes of protectionism” is likely to have the greatest short-term impact. The members have also pledged "to refrain from raising new barriers to investment or to trade in goods and services.” So, India could look forward to markets in, and funding from, developed countries, which had taken a hit following the downturn, to open their doors again.

Story in Hindustan Times

No comments: