India likely to express concern over protectionism at G-20

New Delhi, Oct 18 (PTI) India is likely to raise its
voice against protectionism and call for coordinated policy on
exit from stimulus at G-20 finance ministers and central bank
governors two-day meeting in South Korea beginning on October
22.
Ahead of the G-20 gathering, a high-level meeting of
Indian Finance Ministry and RBI officials today chalked out an
agenda for India. Besides finance ministry officials, RBI
deputy governor Subir Gokarn attended the meeting.
India's Finance Minister Pranab Mukherjee will lead the
Indian delegation for the G-20 meeting at Gyeongju in Sough
Korea. The meeting will be followed by G-20 Summit on November
11-12 which among others will be attended by Indian Prime
Minister Manmohan Singh.
G-20, which is a club of developed and emerging nations,
has been playing the leadership role in helping the world come
out of the financial crisis of 2008.
Besides calibrated withdrawal of stimulus which were
provided by major countries to help their economies combat the
impact of the global financial meltdown, the G-20 will also
discuss the threat of protectionism.
Among other important items, the issue of currency war
over revaluation of Chinese yuan is also likely to figure
prominently at the G-20 deliberations.
While the US is insisting on appreciation of yuan in
line with market value, the Chinese government is resisting
the move at it would hurt its exports.
Besides, the Framework for Strong, Sustainable and
Balanced Growth, which was adopted in the Pittsburgh Summit,
would come up for detailed deliberations at the meeting.
Earlier, commenting on the G-20 meeting Mukherjee had
said that the conclave would discuss various current problems
besides analysing the present global scenario.
The agenda of the ministerial meet, he had said, would
also include exit policy relating to withdrawal of stimulus
packages and fiscal consolidation.