Mumbai, July 29: There is an urgent need for the economic research institutions and the financial houses in the country to work towards helping its enterpreneurs and the exporting community to overcome the growing protectionism in global trade, say experts. In the name of free trade and globalisation, the western nations led by the US and the European Union (EU) are engaged in creating regional trade blocks like the North Atlantic Free Trade Agreement (NAFTA) and the EU and indulge in preferential trade practices, according to Dr Nagesh Kumar, director general of Research and Information System for the Non-Aligned and other Developing Countries (RIS).

Further, the developed nations provide indirect subsidies in terms of providing support to the research and development activities of the corporates and protect the leaders of their industries in global trade, he said.
Kumar said there is a growing conflict between capital and labour since the US and the EU adopted strategic trade practices that encourage preferential trade policies towards their own trade blocks and discriminated against the non-members of regional trade blocks.
As a result, India has become a victim of restriction in export of human resources from countries like the us and the policy makers there even went ahead with enactment of legislation on imposing restrictions in the growth of BPO from India. Bureau Report