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Protectionism would deepen recession: Sharma

Union Commerce and Industry Minister Anand Sharma has warned countries trying to introduce protectionist measures that this would not only be counter-productive, but also deepen the recession and delay recovery.

world Updated: Jun 19, 2009 10:41 IST

Union Commerce and Industry Minister Anand Sharma has warned countries trying to introduce protectionist measures that this would not only be counter-productive, 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," Sharma said in response to a question in his interaction with Washington-based journalists at the end of his trip to the city.

"In our opinion, protectionism is counterproductive for any country, because protectionism at a time when we are talking of kick-starting the Doha Development Process would actually go against that spirit," Sharma said.

Noting that protectionism in any legal format would subvert the multilateral processes, he said such barrier would prolong the present economic recession and further delay any turnaround. Observing that all countries do eventually take action and policy measures to uphold national interest, he said at the same time India is committed to multilateralism.

"We are against protectionist measures," he said.