Protectionism will hurt economic recovery: Anand Sharma

06/09/2011 12:00 - 385 Views

NEW DELHI: India on Thursday asked the developed nations, especially the US and European countries, not to turn protectionist in view of the current economic crisis, saying it would only prove counter-productive and hurt recovery.

"Crisis leads to inward thinking but protectionism is counter-productive as it deepens recession. Wherever protectionism has been resorted to, it has never helped," said Minister of Commerce and Industry Anand Sharma.

Referring to the US government's protectionist approach towards the Indian outsourcing industry, Sharma said US policy makers need to be sensitized about the fact that Indian firms were major source of employment in the US and they were not taking away jobs.
IANS Sep 1, 2011, 06.09pm IST

Source: economictimes.com