Imports not a concern as long as exports continue to grow: Commerce Secretary
commerce secretary Sunil Barthwal said Thursday.
He also said that the world needs to avoid protectionism, which creates more trade barriers and hinders movement of goods.
Emphasising that one needs to avoid a mercantilist approach and should not bother too much about trade balance and imports, Barthwal said: «Because if the Indian economy is growing 7% and if the world is growing at 3-3.5% rate of growth then obviously India will be requiring more of consumption, more of imports and let me tell you that the role of imports in exports is also very, very important».
Barthwal was speaking at the Global Economic Policy Forum organised by the Confederation of Indian Industry.
«As long as we are able to improve our exports share, we should not be too much concerned about imports and that is what I feel that we need to avoid,» he said, adding that imports of raw materials and intermediate products are essential.
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