PM Modi calls protectionism as dangerous as terrorism

Davos, Jan 24: Sending out a strong message against protectionism and inward-focused economic policies, Prime Minister Narendra Modi on Tuesday said such tendencies can be as dangerous as terrorism and climate change as he pitched for creating a “heaven of freedom.”

Mr. Modi, who became the first Indian Prime Minister to address the World Economic Forum’s annual summit here in two decades, talked about grave concerns facing the world, including terrorism and climate change.

In an almost hour-long speech in Hindi, the Prime Minister sought to hard sell India as an investment destination, saying those wanting wealth with wellness and peace with prosperity should come to the country.

Seen as an apparent reference to policies like America First, especially since U.S. President Donald Trump would be coming to Davos later this week, Mr. Modi said, “Many countries are becoming inward focused and globalisation is shrinking and such tendencies can’t be considered lesser risk than terrorism or climate change.”

Protectionism is rearing its ugly head and there is risk of new tariff and non-tariff barriers coming up, the Prime Minister said, as he mentioned that division is not the solution to this problem of anti-globalisation.

Noting that in an interconnected world, globalisation is losing its lustre, he wondered, “Do global organisations created after the Second World War really reflect the aspirations and dreams of mankind today? With respect to the developing countries there is a very big gap.”

Asserting that India is proud of its democracy and diversity, he said the country has always contributed to global peace as well as promoted values of integration and unity.

'Don't talk of good and bad terror'

Prime Minister Narendra Modi on Tuesday said terrorism is dangerous.

Addressing the World Economic Forum’s annual summit here, he remarked that what is worse is when people say there is a difference between ‘good’ and ‘bad’ terror.

He said it is painful to see some youngsters getting radicalised.

He emphasised that a predictable, stable, transparent and progressive India is good news in an otherwise uncertain global environment.

“Let us create a ‘heaven of freedom’, where there is cooperation and not division, fractures,” Mr. Modi told the gathering.