Free trade effective in theory, not in practice: CEA

Developing countries like India do not need to engage in the alarmist rhetoric about impending trade battles, especially when advanced economies have long abandoned their commitment to free trade and climate policies have already become extensions of trade protectionism, India's Chief Economic Advisor (CEA) V Anantha Nageswaran said in his keynote address at the Business Standard BFSI Insight Summit on Friday.

- RUCHIKA CHITRAVANSHI

"Developing countries should evaluate economic policy prescriptions through the lens of competitiveness, capacity, maintaining economic and social stability, and, increasingly, national security. Balancing these goals requires pragmatism, rather than an ideological commitment to any particular economic policy."