Protectionism is expected to grow: Commerce Secretary

NEW DELHI: Protectionism around the globe, including the US, which is in election mode, is expected to grow as the world deals with the slowdown, but India needs to react only when legislation are converted into actual statute, commerce secretary Rahul Khullar said while releasing a Assocham report on doubling exports.

The US call centre Bill, which proposes to make companies that set up call centres overseas ineligible for grants or guaranteed loans, is indeed a matter of concern, but it was premature to react on it, the secretary said.

“As the US goes into elections, it will become more and more strident. We can’t be constantly worried about legislation, till they are converted into actual statutes,” Khullar said.

The global economy is facing severe crisis and “you would continuously see such things quite simply because there is a real problem all over”.