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Protectionism a temporary phase, won't last: VK Singh

Press Trust of India  |  New Delhi 

is a "very temporary" phase which would not last as it would ultimately harm the inter-dependent globalised world, V K said today.

is a very temporary phase. comes because somebody or the other feels threatened, but ultimately it harms because today you are so inter-dependent that it does not work.

These are all temporary phases, (protectionism) won't last, told PTI on the sidelines of Asia Pacific Entrepreneurship awards here.

Recently, the US imposed duties on and aluminium imports with a view to protect its domestic manufacturers, raising fears of similar trade protectionist measure by other countries.

Multilateral bodies like IMF and global trade body WTO have asked governments to avoid protectionist trade policies which could harm global growth.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 13 2018. 21:35 IST