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Meeting ahead of the G8 and G20 summits in Toronto in June, heads of business chambers from G8 nations have urged their leaders to institute new polices to sustain recovery from the economic meltdown.

Finance Minister Pranab Mukherjee is attending a G20 meeting at Busan in South Korea June 4-5 focused on the global financial crisis ahead of the Summit in Toronto later this month where India will be led by Prime Minister Manmohan Singh.

Before G8 and G20 summits in Toronto next month can discuss a proposed global bank tax, Canada, whose banks stood out during the economic meltdown, has mounted an international effort to scuttle the idea. To get the US, India, China and other economies on their side and scuttle the idea, three Canadian ministers have reached Washington, Mumbai and Shanghai.

India's strength as one of the most enterprising nations with inclusive entrepreneurial drive that includes bottom of the pyramid innovations that drive social economic growth was highlighted during the multilateral discussions at the G20 Young Entrepreneur Summit in Toronto, Canada by CII's Young Indians (Yi) and Bharatiya Yuva Shakti Trust (BYST).