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Globalisation is losing its lustre, India’s Modi tells Davos summit

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Reuters
January 23, 2018

Protectionism is gaining ground and globalisation is losing its appeal, but India is open for business, Indian Prime Minister Narendra Modi told the World Economic Forum on Tuesday.

Modi is leading a big government and business delegation to the summit in Davos, the first Indian prime minister do so in 21 years, aiming to showcase India as a fast-growing economic power and a potential driver of global growth.

His comments on rising trade barriers came ahead of an address to the forum later this week by U.S. President Donald Trump, who has championed inward looking policies for the world’s biggest economy.

“Instead of globalisation, the power of protectionism is putting its head up. Their wish is not only to save themselves from globalisation, but to change the natural flow of globalisation,” Modi said at the opening of the forum, which has attracted 70 heads of state and government, chief executives and top bankers.

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This article was posted: Tuesday, January 23, 2018 at 8:47 am





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