GET Stock QuotesNews18 APP
News18 English
»
1-min read

'Make in India' Can't be Termed Protectionist: Piyush Goyal

Speaking at the World Economic Forum (WEF) Annual Meeting in Davos, Union minister Piyush Goyal said India has positioned itself as a global statesman in the context of prevailing concerns relating to a fractured world.

PTI

Updated:January 25, 2018, 5:11 PM IST
facebookTwittergoogleskypewhatsapp
'Make in India' Can't be Termed Protectionist: Piyush Goyal
File photo of Union Railway Minister Piyush Goyal.
Loading...
Davos: As global leaders flag concerns over protectionist measures introduced by the US and some other countries, Union minister Piyush Goyal has said 'Make in India' cannot be termed as protectionism and the country wants to share its prosperity with everyone in the world.

Here to participate in the World Economic Forum (WEF) Annual Meeting, Goyal said India has positioned itself as a global statesman in the context of prevailing concerns relating to a fractured world.

"India has always believed in sharing our prosperity with the rest of the world. 'Vasudhaiva Kutumbakam' (the world is one family) has been our credo since times immemorial. "Even now when we talk of Make in India, we are offering a platform where India has a competitive advantage compared to other countries. It's a very attractive place to do business and a large market," Goyal told PTI in an interview in Davos.

"Therefore, the Make in India programme is not protectionist as it is an opportunity for the world to get the best talent and the best pricing and the best of technology to serve all the people of the world," he said.

Asked about the America First programme which has seen top companies being asked to bring oversea jobs and profits back to the US, Goyal said India never does anything like that and believes in sharing growth and prosperity with all the stakeholders.

"We don't tax worldwide income, we don't have those kinds of restrictions on capital flows which many parts of the world have introduced.

"In that sense we are a very liberal economy and a very attractive economy to invest in and an economy that shows great potential for the days to come," he said.

A number of global leaders, including Prime Minister Narendra Modi as well as Germany's Angela Merkel and France's Emmanuel Macron, in their speeches here have openly criticised protectionism and the threats being faced by globalisation from inward-looking economic policies of some countries.
| Edited by: Bijaya Das
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Bank of Baroda 116.35 +3.25 +2.87
Reliance 1,210.75 -6.40 -0.53
SBI 271.50 -2.30 -0.84
HDFC Bank 1,961.35 -27.85 -1.40
HDFC AMC 1,408.85 -127.35 -8.29
Company Price Change %Gain
Oracle Fin Serv 4,103.15 -158.70 -3.72
Maruti Suzuki 8,207.00 -193.10 -2.30
Reliance 1,210.30 -6.90 -0.57
HDFC AMC 1,408.55 -131.65 -8.55
Bank of Baroda 116.30 +2.85 +2.51
Top Gainers
Company Price Change %Gain
BPCL 365.05 +9.95 +2.80
Coal India 280.65 +7.45 +2.73
GAIL 384.55 +9.75 +2.60
Tech Mahindra 769.95 +15.25 +2.02
ONGC 177.00 +3.10 +1.78
Company Price Change %Gain
Coal India 280.55 +7.10 +2.60
ONGC 176.65 +3.30 +1.90
Tata Steel 620.45 +8.00 +1.31
Hero Motocorp 3,142.35 +30.70 +0.99
Kotak Mahindra 1,227.00 +10.75 +0.88
Top Losers
Company Price Change %Gain
Bajaj Finserv 6,312.05 -215.55 -3.30
IndusInd Bank 1,804.65 -57.50 -3.09
Zee Entertain 450.80 -13.75 -2.96
Bajaj Finance 2,499.55 -70.85 -2.76
UPL 692.30 -16.75 -2.36
Company Price Change %Gain
IndusInd Bank 1,805.00 -56.45 -3.03
Maruti Suzuki 8,207.00 -193.10 -2.30
HDFC Bank 1,961.95 -31.40 -1.58
Yes Bank 318.50 -4.65 -1.44
HDFC 1,831.15 -25.00 -1.35

Live TV

Loading...
Loading...