"Protectionism in the era of Globalization" -S. Jaishankar From the age of Kings and Kingdoms, India is known for its global trade and its richness in globalization. But recently our External Affairs Minister S. Jaishankar rebelled against globalization and global trade. Advocating trade protection and government assistance to domestic businesses and traders. According to him, the government should plug barriers in global trade. He quotes that in the name of openness we have allowed subsidies to/on products and other advantages to foreign enterprises and traders in justification for globalization. On remarking FTA, the minister said that the effect of past trade agreements has been to deindustrialize some sectors. ( Basically, the idea was to justify the government moving out of Regional Comprehensive Economic Partnership.) On Nov. 15th, 15 nations signed the Regional Comprehensive Economic Partnership(RECP), the largest regional trading arrangement of the pacific-Asia...
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