Union Minister for
Commerce and Industry and Civil Aviation Suresh Prabhu says, India should move
World Trade Organization (WTO) against protectionist tendencies of countries
hurting its interests.
In an exclusive interview to Dordarshan, Mr Prabhu spoke out against the
escalating trade confrontation between the US and China. His remarks came after
US imposed heavy tariffs on imported steel and aluminium, a decision that is
impacting India, among several other countries.
The Minister said, countries being impacted by protectionism should move the
WTO for dispute redressal and India too should move to the world trade body for
relief if the need arises. Mr Prabhu highlighted the benefits that expansion of
global trade has brought to the world. He said a trade war would only hurt
economic growth and employment.
Speaking on efforts to increase the share of exports in country's GDP, Mr
Prabhu said, India is working on a strategy to diversify its exports by tapping
into new products and markets. On government's decision to divest 76% of its
stake in Air India, the Civil Aviation Minister said, interests of Air India's
employees will be protected