New Delhi: India will promote the case of medium and small businesses at the G-20 to ensure adequate credit flow to the sector, said Planning Commission Deputy chairman Montek Singh Ahluwalia who is the Indian sherpa for the meet.
"We have drawn attention to the importance of financial
inclusion...credit to small and medium industry is extremely
important, I think others have accepted this position", he
said, adding sherpas will meet once again ahead of the
Pittsburgh Summit.
Sherpas in the present context are prime minister's or
the state's ambassador for the meeting.
Ahluwalia was in the US last week to attend the meeting
of sherpas, representative of G-20 nations, to complete
preparatory work for the summit.
"They (G-20 leaders) are not going to do anything that
will affect credit to our MSME...we are telling them we are
trying to do something on the credit front, so that the MSME
sectors are benefited and I think other countries also
recognise that", he added.
Referring to the issue of protectionism, Ahluwalia said,
"the good news is that in G-20 the leaders have said that we
should not resort to protectionism."
Admitting that some countries have taken protectionist
measures, he said, "their overall assessment is that despite
the very serious global crisis, there is no significant roll
back in this matter or in this area, which I would call as a
positive development."
Bureau Report
First Published: Monday, September 14, 2009, 23:45