Trump win may ensure India's trade security: CEA Nageswaran at BFSI Summit

Quick Summary:

He advised India to avoid being overly concerned with global trade conflicts, especially as developed nations have become less committed to free trade ideals.

Addressing trade, Nageswaran critiqued the “religious belief” in free trade, asserting that historically, today’s developed nations followed restrictive trade policies and only advocated for open markets once they had industrialised.

Nageswaran argued that while renewable energy is valuable, it presents challenges such as high capital costs, land requirements, and external dependencies, which could displace labour and create macroeconomic shifts.

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Category: BusinessFinance

Markets: IndiaUnited States

Topics: V Anantha Nageswaran Carbon border tax Trade security Fossil fuel prices Trump re-election Renewable energy Middle-income economy US elections impact Energy security India economic outlook Indian growth strategy Business Standard BFSI Summit Capital expenditure Red Sea trade routes Climate policy Free trade critique BSFI

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News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 15:14:28 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 587 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23469150

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