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PM Modi to talk about trade barriers at G20 summit, besides Paris deal

G20 Summit in Hamburg on July 7-8 gains an extraordinary even historic significance as US President Donald Trump makes his maiden appearance particularly in the exciting context of US opting out of Paris deal and PM Modi’s reinforcing India’s commitment to Paris climate accord; two leaders of two great democracies taking two different stands on Paris climate change.

PM Modi’s stand on climate change has been applauded by Germany, Spain and Russia. Besides, his bold economic reforms also have been praised by the leaders of these countries.

Besides climate change, PM Modi is also expected to emphasise on the burning issue of trade protectionism.
India strongly supports resistance to all forms of protectionism and is fully with Germany (which currently holds the G20 presidency) on measures to liberalise trade in goods and services, as the media report goes quoting a person familiar with the matter, under anonymity.

Trade protectionism impedes free trade and restricts choices to customers. When a business is without competition, the consumer is without options, to put it briefly the major disadvantage of trade protectionism.

Andreas Lux, head of G20 presidency team (global economy / framework for growth), German federal ministry of finance, had earlier said that the failure to incorporate the sentence – “We will resist all forms of protectionism.” – in the March 17-18 meeting communique was a “major setback for us (Germany) and India”.

With German chancellor Angela Merkel making African growth and development one of the major G20 themes under her presidency, she can count on strong support from the Indian PM.

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