May 8, 2017 / 6:51 AM / 5 months ago

Arun Jaitley says liberalisation will prevail over protectionism

Indian Finance Minister Arun Jaitley addresses a delegation while speaking on the Goods and Services Tax (GST) issues during the Vibrant Gujarat investor summit in Gandhinagar, India January 11, 2017. REUTERS/Amit Dave/File Photo

TOKYO (Reuters) - Finance Minister Arun Jaitley on Monday played down fears held among some market participants that protectionism will spread globally and weigh on economies, including that of India.

“Hopefully, I think the debate (on protectionism) will settle down and the need for greater liberalisation will prevail,” he said at a seminar in Tokyo.

Jaitley also said he expects India to achieve economic growth of 7 percent or above despite any possible negative impact on private consumption from the demonetisation of high-value currency.

Reporting by Leika Kihara

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