At a meeting of captains of Indian industry with the Prime Minister on Saturday, the ASSOCHAM President, Sajjan Jindal advised Dr. Manmohan Singh that he should raise issue of growing protectionism, surfacing in economies of scale at G-20 Summit in London, pointing out that it can hamper globalization spirit.
According to the ASSOCHAM President, protectionism tendencies if not curbed could be counterproductive in the long run and thus need to be arrested before gaining grounds to create demand generation in the economy.
Mr. Jindal also recommended to Dr. Singh that during G-20 deliberations, the Indian Prime Minister should take a stand that G-20 must call for joint negotiations with Opec to fix a price band for oil to arrest speculations in crude oil prices.
On the issue of Dr. Singh’s meeting with President Obama of US, Mr. Jindal said that Dr. Singh should urge him to lift restrictions on issuance of H1-B visa to Indians so that Indians can contribute to building of American economy.
And finally, the Prime Minister should also stress the need for correcting global imbalances wherever possible as per the best suited domestic interests.
Source: ASSOCHAM
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