Jaitley says liberalisation will prevail over protectionism

Jaitley also expects India to achieve economic growth of 7% or above despite any possible negative impact on private consumption from the demonetisation of high-value currency.

Finance minister Arun Jaitley on Monday played down fears held among some market participants that protectionism will spread globally and weigh on economies, including that of India.

Reuters photo

“Hopefully, I think the debate (on protectionism) will settle down and the need for greater liberalisation will prevail,” he said at a seminar in Tokyo.

Jaitley also said he expects India to achieve economic growth of 7% or above despite any possible negative impact on private consumption from the demonetisation of high-value currency.