Manmohan Singh leaves for St. Petersburg G20 Summit

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Prime Minister Manmohan Singh left for St. Petersburg Wednesday to join other leaders at the G20 Summit and find ways to tackle the challenges faced by the global economy, especially the turmoil in currency markets.

Apart from attending the summit and holding bilateral talks, the visit will also afford an opportunity to the prime minister to meet with leaders from Brazil, Russia, China and South Africa, which collectively form the BRICS nations.

The prime minister returns Saturday.

The main theme of the 8th G20 Summit is starting a new cycle of growth through quality jobs and investment, trust and transparency and effective regulation. The past summits were held in Washington, London, Pittsburgh, Toronto, Seoul, Cannes and Los Cabos.

Besides India, the G20 comprises Argentina, Australia, Brazil, Canada, China, France, Germany, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, Britain, US and the EU.

Originally formed at the level of finance ministers and central bank governors in 1999 after the East Asian economic crisis, the G20 assumed significance after its elevation to a summit-level forum in 2008, following the global financial crisis.