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Strengthening domestic economy makes India stronger globally, says Commerce Secretary at EEPC India event Indian Economy
Image: Vikram/Unsplash

Strengthening domestic economy makes India stronger globally, says Commerce Secretary at EEPC India event

India Blooms News Service | @indiablooms | 16 Dec 2020, 05:51 pm

Kolkata/IBNS: The World Trade Organisation is an important institution for global trade and economy, but India's salvation lies in strengthening its domestic economy by attracting new investments by schemes like production-linked incentives, Commerce Secretary Dr Anup Wadhawan said at an EEPC-EXIM book release function Wednesday.

Releasing the book 'World Trade and India: Multilateralism, Progress and Policy Response", the Commerce Secretary said several countries have used schemes like PLI to strengthen their manufacturing and the recent steps by the Indian government would yield good results, with new reforms. 

In his welcome address, EEPC India Chairman  Mahesh Desai said the ongoing problems like COVID-19 pandemic have again demonstrated the importance of interdependence and cooperation to find solutions to contemporary problems.

The EEPC India-EXIM Book has opinion and research based articles authored by 21 top economists, educationists and research scholars from well-known universities and institutions, including IIM, Bengaluru, IIFT, IITs, ICRIER and NIPFP.

It has been edited by Professor Ajitava Raychaudhuri, Department of Economics,Jadavpur University, Professor Prabir De, Head, ASEAN-India Centre (AIC), Research and Information System for Developing Countries (RIS) and Mr  Suranjan Gupta, Executive Director, EEPC India,

Mr David Rasquinha, Chairman and Managing, Director, EXIM Bank of India noted what the well-researched publication has captured.

He said: "What comes upfront is that world trade has been passing through a difficult time, which calls for drawing a fresh perspective on the future of India’s trade. There is no doubt that to build the resilience of the Indian economy to trade shocks and improve competitiveness of exports, it would be useful to consider mitigating strategies. Besides, this book aims to improve understanding and appreciation of key and emerging trade policy and negotiation issues facing India in international trade.''