India goes to G20 with confidence, will oppose protectionism: PM

September 23rd, 2009 PITTSBURGH - As the leaders of the world's 20 largest economies gather here Thursday to review their efforts to stem global recession, India is expected to pitch for a more proactive role in the management of the global economy. As Prime Minister Manmohan Singh who arrives here put it before embarking for the summit, "It is necessary for India to engage in the management of the world economy because we have a lot at stake, and a lot to contribute." He will also "convey India's interest in seeing the earliest possible return to trend growth and stabilisation of the banking and financial sectors in the advanced economies, because this directly affects our exports, capital inflows and investment." Having weathered the global meltdown much better than others, a confident India is also expected to seek reform of international financial bodies and forcefully oppose all forms of protectionism that may affect global economic recovery.

September 12th, 2009 EU warns against protectionism in GM sale of OpelBRUSSELS — The European Union's competition commissioner has warned she will take action if there is any protectionism in the sale of General Motors Co.'s European unit Opel. The Belgian government says it wants the EU Commission to investigate the Opel deal amid concern that Germany allegedly sought to protect its own plants at the cost of others.

June 26th, 2009 UNITED NATIONS - Warning against protectionist tendencies to address the global economic crisis, India has said that while it has fared much better than others, developing countries must get space to continue To grow. "We have a vested interest in the world economy doing well as that is a key enabler for our growth too," Minister of State for External Affairs Preneet Kaur said Thursday at the UN Conference on World Financial and Economic Crisis and its Impact on Development.

June 24th, 2009 LONDON - The Organisation for Economic Cooperation and Development (OECD) Wednesday said India was on course to achieving a 7.2 percent growth rate next year but said it was concerned about what it described as the country's increasing protectionism. The OECD said the Indian growth rate would dip to 5.9 percent this year before rising to 7.2 percent in 2010 - an upward revision of its previous forecast of 4.3 percent in 2009 and 5.8 percent the year after.

June 19th, 2009 WASHINGTON - India has cautioned nations toying with protectionist measures in the wake of the global economic crisis that such a move would not only be counterproductive, but also deepen the recession and delay recovery. "Any kind of protectionism will not only be counterproductive, but deepen the recession and delay the recovery," Commerce and Industry Minister Anand Sharma told reporters Thursday at the end of his three-day visit for talks with the US officials.

May 14th, 2009 NEW DELHI - There should be high level talks between Brazil, Russia, India and China on a global pact to combat climate change before the first BRIC summit in Russia next month, India's top climate negotiator Shyam Saran said here Thursday. The talks should be at the level of either politicians or senior officials, Prime Minister's Special Envoy on Climate Change Saran told delegates from all BRIC countries at a summit preparatory meeting organised by the Observer Research Foundation (ORF).

May 8th, 2009 BANGALORE - Diversified U.S. manufacturer Honeywell International Inc.

May 8th, 2009 China promises new European buying spreesBRUSSELS — China promised Thursday to send its companies on new multibillion dollar spending sprees in Europe as it called on the bloc, its largest export market, to resist new trade barriers. Chinese Vice Premier Wang Qishan told EU officials that the government will send several business delegations to Europe to repeat a February shopping trip where they spent $13.6 billion on contracts in Germany, Britain, Spain and Switzerland.

March 25th, 2009 NEW DELHI - Ahead of a likely meeting between Chinese President Hu Jintao and Prime Minister Manmohan Singh in London next week, China Wednesday said the two countries should join hands to tackle the global financial crisis to guard against protectionism of developed countries. 'The two countries can exchange experience and join efforts to tackle international financial crisis to guard against the protectionism of developed countries,' China's ambassador to India Zhang Yan told reporters here.

March 19th, 2009 WASHINGTON - Captains of Indian and American industries have pledged to work together for the revival of the world economy while fighting growing calls of protectionism in either country. The calls for India and the US to further strengthen economic ties amid the global economic crisis came at a panel discussion here Wednesday on 'India and the US: Partners in the Global Economic Recovery'.

March 19th, 2009 NEW DELHI - 'Stop Protectionism' will be the India's advice to the developed world during next month's G-20 Summit in London. According to sources in the government, India is likely to pitch against the protectionist policies adopted by Europe in general and US in particular in the wake of the economic crisis.

March 4th, 2009 NEW DELHI - India Tuesday warned against the dangers of protectionism and asked developed countries not to stop the flow of funds to developing countries due to the global economic downturn. 'Developed countries should not resort to protectionism to resolve the crisis,' External Affairs Minister Pranab Mukherjee, who is also acting finance minister, told reporters here when asked about the impact of global financial meltdown on developing countries.

February 21st, 2009 NEW DELHI - External Affairs Minister Pranab Mukherjee Friday urged the people of India to share the pain of economic crisis, and said the interests of labour force would be protected even if it meant slight cuts in wages and salaries. 'The government's approach of inclusive growth is the critical component of its strategy to ensure an early recovery from the current crisis,' Mukherjee told a national labour conference at the Ashok Hotel here.

February 19th, 2009 NEW DELHI - As fears surface in India over large-scale job cuts due to an economic slowdown, Minister for External Affairs Pranab Mukherjee Friday said interests of the country's labour force will be protected even if it meant some slight cuts in emoluments. 'The government has been conscious of the magnitude of this still-deepening crisis and has been taking steps to mitigate its impact on Indian society,' Mukherjee told a national labour conference at the Ashok Hotel here.

February 15th, 2009 BEIJING - China was 'deeply concerned' about trade protectionism, amid fears that such action would aggravate the economic downturn, an official said Monday. Ministry of Commerce (MOC) spokesman Yao Jian told a press conference that China was 'deeply concerned' over protectionism in some countries, which he didn't identify.