India may take tough stand on protectionism at G-20 meet

NEW DELHI: India is expected to make a strong pitch at the G-20 meeting in London to stop attempts by big economies to further protectionism to ward off the threat posed by the financial crisis.

The country is also expected to get a stake in the Basel Committee on banking supervision and the Financial Stability Forum (FSF), set up by G-7 countries.

Sources pointed out that the issues of protectionism need to be pushed hard at the G-20 meeting in London on April two which is expected to be attended by Prime Minister Manmohan Singh.

They said India would make efforts to point out issues of services and visas, which are not covered by the WTO process but do have trade distorting effects.

"We have to convince people that these are protectionist measures. It is an uphill job," the sources said.

The decision to include India in the Basel Committee was taken at a meeting held on March 10-11, where the Committee expanded its membership to many other countries.



Among other countries which have been invited to become members of the Committee are China, Australia, Brazil, Korea, Mexico and Russia.

India is expected to contend that it has investments in big economies which result in job creation.

Developed countries need to give market access to Indian companies if they want access to Indian markets, the sources said.