India initiates talks with trade partners against protectionism

25/02/2009 12:00 - 620 Views

New Delhi (PTI): Concerned over growing protectionist measures in the midst of global downturn, India has taken up the issue with the US and Europe impressing on them that the barriers will hurt world trade.

While the Commerce Ministry has initiated discussion with the country's largest economic partners, it is not yet moving the World Trade Organisation against the increasing barriers seen in the developed world.

"We are holding talks with different countries asking them not to use protectionist measures," a senior commerce ministry official said. However, there is no plan to move WTO, he said.

With the US and several European economies trapped in recession, Indian exporters are facing resistance in the large markets in the form of non-trade barriers like anti-dumping duties. Besides, they are also worried over increased pressures on the governments of the large countries to restrict outsourcing.

Commerce and Industry Minister Kamal Nath has been taking up the issue with trade ministers from France, New Zealand and the Netherlands. India's exports are set to register lower export growth of 15-17 per cent this fiscal against about 24 per cent in 2007-08 with the overseas shipments contracting from October.

Feb 23, 2009

Source: www.hindu.com