India among the hardest hit by protectionism in G-20 group

Among emerging countries in the G20 group, China and India have been hit hardest by the protectionist interventions in the past year, said the Global Trade Alerts (GTA).
 
China, the US and India have been hit the hardest in the list of largest economies, by protectionist measures in 2017, said the report. 
 
With protectionist measures being pursued by economies across globe, including US, India could further suffer a setback in the coming months, the report observed.
 
As per it, India was largely affected by protectionist measures by rich economies than its fellow emerging economies. 
 
In fact, fellow emerging economies have been less unkind to India compared to the advanced economies in the G20 group.
 
GTA says protectionism has witnessed a constant rise after the global financial crisis of 2008.
 
Recently, the tiff between the US and China over import tariffs has catalysed the rush towards protectionism.
 
The protectionist measures have largely been followed by advanced economies, which have seen staggered growth post 2008 slowdown. 
 
The Global Trade Alert (GTA) was launched in June 2009 when it was feared that the global financial crisis would lead governments to adopt widespread 1930s-style beggar-thy-neighbour policies.
 
Although global in scope, the GTA has given particular attention to the policy choices of the G-20 governments ever since their leaders made a “no protectionism” pledge in Washington DC in November 2008.
 
Source: LiveMint, GTA

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