Planning Commission chief Montek Singh Ahluwalia, India’s “sherpa” at G-20, made peace with negative global perceptions on India’s plight, drawing comfort from its $280 billion foreign exchange reserve that he said was “more than enough” to tackle the current mess.
But this failed to convince critics.
Mr Ahluwalia, agreeing that part of India’s problems were of its own making, said it was looking to a common Brics currency pool only as a long-term safety net, and didn’t want to operationalise it immediately. The Prime Minister’s forceful intervention for a coordinated policy, failed to find takers among the global leaders here.