Industry Minister speaks on some of the disadvantages of developing economies

Jun 10 2019 04:17 PM
Industry Minister speaks on some of the disadvantages of developing economies

New Delhi: Union Commerce and Industry Minister Piyush Goyal has called for lifting of protectionist measures in international trade, saying the slowdown in global trading and investment is causing huge losses to developing and underdeveloped countries.

also read The central government launched this preparatory work to generate employment

Some say that Goyal

As per the information received from the sources, the union minister, while attending the G 20 Ministerial meeting on "Trade and digital economy" in Japan on Sunday, said that the reduction in global trade and investment would reduce the economic growth, growth and development of developing and under-developed countries Employment opportunities have suffered a huge loss. Goyal said that the ongoing tension in global trade has dampened business confidence worldwide. This has affected most of the developing and under-developed countries.

 

With this, India supports collective efforts to reduce trade tensions and favours a rule-based trading system. Rule based trading system is essential for fair, independent and equitable trade. He urged the trade ministers of the G 20 countries to strengthen the WTO's trading system.

also read despite weakening Jewelry demand Gold to shine in the market

© 2016 News Track Live - ALL RIGHTS RESERVED