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Submitted by RN Ganesh (not verified) on Tue, 01/30/2018 - 05:46
While protectionism is fast
While protectionism is fast becoming a dirty word, the US has no qualms about following it. America has set up a credible and effective instrument to ensure that no US industry is injured, nor is a new one prevented from being established, by the import of goods from abroad. Our own system seems less organised, and a comparative evaluation might possibly show that it is far from consistent.
The lesson for India should be that protectionism under the supervision of an independent (even independent of the Government, as in the US case) and permanent body such as the USITC would further the country's long-term interests.