Ansari cautions developed countries against protectionism

India has cautioned the developed world against continuing to use “non-traditional methods of protection” as that would hamper global recovery. “The fact that some of these measures are focused on services and manufacturing sectors where developing economies tend to have a comparative advantage adds to the problem,” observed Vice-President Hamid Ansari while speaking at the Eighth summit of the Asia Europe Meeting which began here on Monday. Mr. Ansari said neither sustainable economic recovery nor growth in developing economies would be possible if the new non-traditional methods of protection continue as part of the stimulus and emergency support measures, mainly in the developed economies, for extended periods of time. India's concern While the Vice-President did not elaborate on the “new non-traditional methods,” India is concerned over developed countries excluding foreign companies from government contracts and increasing visa fees making it difficult for professionals from developing countries to access their job markets. Drawing attention to India's strategy to counter the slowdown by fiscal and monetary stimulus and then taking steps to check fiscal deficit, Mr. Ansari felt that Eurozone countries must adopt strategies unique to each nation rather than adopting a cookie-cutter approach.