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The G20 nations have mentioned that emerging nations like India can play vital role in the restoration of global financial system as well as to trounce the current economic meltdown.
Prime Minister Manmohan Singh has mentioned that India can provide vital inputs to solve the global economic meltdown. Meanwhile, the US President Barack Obama had expressed that the US alone is not enough for tackling world problems and a global consensus is required.
"Leaders should recognise that developing countries are a key part of the solution," said World Bank President Robert Zoellick, ahead of the summit that will end late Friday.
"Pittsburgh can be a turning point in other ways. Developing countries are part of the solution," he said, adding: "If London was a summit for the financial sector, let Pittsburgh be a summit for the poor."
More than 2,000 journalists and 1,100 delegates from across the world are present to witness the third G20 Summit during which India is being expected to commit to ensure that the world is able to recoup faster from the financial meltdown.
"It is necessary for India to engage in the management of the world economy because we have a lot at stake, and a lot to contribute," Manmohan Singh said as he prepared for the summit.
He mentioned that he also expects the G20 nations to act against protectionism, whether it concerned trade in goods, services, investment or financial flows.
The most significant remarks, nevertheless, came from the host Obama. "Power is no longer a zero sum game. No nation can or should try to dominate another nation. No world order that elevates one nation or group of people over another will succeed," said the US president.
According to participating diplomats, the G20 leaders may also issue a statement at the end of the summit committing them to a framework of sustainable and balanced growth.
Their first interaction is scheduled at the Phipps Conservatory and Botanical Gardens, where Obama will host a welcome reception, following which they will meet at the sprawling David Lawrence Convention Centre Friday.
The green banners put up in the city read: "Pittsburgh welcomes the world", even as police was patrolling the areas near the venue on foot, helicopters and even bicycles.
