Huge potential to boost trade, investments with Russia, says Suresh Prabhu

India needs to boost exports amid trade war, says Suresh Prabhu

International News

India needs to explore ways to improve exports in the face of serious challenges to global trade posed by protectionism by the US and others, commerce and industry minister Suresh Prabhu said on Friday. Asked about the impact of the US-China trade war, Prabhu said: “If any country takes a unilateral action, we will definitely take note of it and will deal with it appropriately.” While the minister didn’t spell out India’s response, officials said the country will use the WTO window more vigorously to fight protectionism. “It is a reality that the world is facing serious challenges…In this context, we have to increase our exports,” Prabhu said at an event here.Prabhu’s comment came a day after US President Donald Trump announced plans to impose tariffs on Chinese supplies worth $60 billion, while the world’s second-largest economy retaliated with plans to target $3 billion of US products, including pork, steel pipes, wine and fruits.