Globalisation is losing its lustre: Modi

Globalisation is losing its attractiveness, Indian Prime Minister Narendra Modi has told the World Economic Forum.

Protectionism is gaining ground and globalisation is losing its attractiveness, Indian Prime Minister Narendra Modi has told the World Economic Forum.

"Forces of protectionism are raising their heads against globalisation. They want to reverse its flow," he told the summit in Davos.

Modi delivered the warning in a speech on Tuesday just hours after the Trump administration approved tariffs on imported solar-energy components and large washing machines in a bid to help US manufacturers.

Without directly mentioning President Donald Trump or the US, he said "the solution to this worrisome situation against globalisation is not isolation."

Modi quoted Mohandas Gandhi to drive home his point: "I don't want the windows of my house to be closed from all directions. I want the winds of cultures of all countries to enter my house with aplomb and go out also."

Modi was meant to be the event's highlight until Trump decided to come as well. Trump is due to speak on Friday, and the tariffs his administration approved this week will overshadow his arrival.

Modi is leading a big government and business delegation to the WEF, the first Indian prime minister do so in 21 years.


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Source: AAP


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Globalisation is losing its lustre: Modi | SBS News