India's Prime Minister Dr Manmohan Singh outlined his hopes for G20 London Summit in a statement before he travelled to the UK.

In it Dr Singh said the G-20 has an important role to play in addressing the global economic and financial slowdown by taking coordinated and purposeful action.

It is important that the Summit took credible decisions to reverse the current slowdown and to instil a sense of confidence in the global economy, the statement said.

The statement set out a number of issues that Dr Singh views as requiring particular focus. The need to:

• ensure the adequate flow of finances to the developing countries to overcome the reversal of international capital flows and not retard progress towards the Millennium Development Goals
• avoid protectionism in the trade of both goods and services
• facilitate trade finance
• reform and restructure international financial.

Dr Singh said that the time has come for the international economic and financial architecture to reflect contemporary economic strengths.

Read the full statement on the Government of India website.