Prime Minister Narendra Modi has expressed confidence that the G-20 Summit in Brisbane later this month will impart a new momentum to the global economy.

In a telephone conversation with Australian Prime Minister Tony Abbott, Modi described the G-20 as a key forum for global economic coordination and offered full support for Abbott’s priorities for the G-20 Summit.

The telephone call comes in the backdrop of Modi’s six-day Australia visit which begins on 14 November. Besides discussing the agenda of the Summit, Abbott told Modi that the Australian people and he were keenly awaiting his four-city bilateral visit to Australia.

Modi shared his concerns about the prospects of “jobless growth” and felt that focusing on transforming the quality of life of people and not only on issues like the health of the financial markets, was necessary for creating employment-generating economic growth.

The Prime Minister also suggested that in addition to facilitating financial flows for infrastructure, there was a need to look at innovative mechanisms for infrastructure development.

This includes research on transforming waste into infrastructure inputs and creating a virtual centre for information exchange, guidance, identifying opportunities and facilitating flows, which would be beneficial for the poor countries as well.

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