KOCHI: Chief Economic Adviser Arvind Subramanian on Monday said that if the Western economies become more protectionist, it can have a “big impact” on the domestic economy.
Calling 2016 a watershed year for advanced economies, he said, “... will go down in history as the moment when the advanced economies... actually decided to change their model of development and how they run economy by becoming more inward-looking...”
“If the world becomes more protectionist...it’s going to have a big impact on the Indian economy. If the world was to become protectionist, our exports cannot grow at 25 per cent, which means our growth will suffer quite a bit,” he warned.