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India says it will oppose U.S. 'protectionism'

  • Story Highlights
  • External affairs minister: India needs regional cooperation against economic crises
  • Pranab Mukherjee: India will press for trade and aid flows to the developing world
  • Mukherjee: We are seeing worrying signs of protectionism from the U.S.
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NEW DELHI, India (CNN) -- India Friday vowed to oppose any protectionism moves by the United States as part of Washington's efforts to deal with the economic crisis.

"We are already witnessing worrying signs of protectionism in the world's biggest economy. We will need to argue against this trend at the international fora (forums)," external affairs minister Pranab Mukherjee told a labor conference in New Delhi.

Mukherjee, who heads the Indian government's finance portfolio, said his country would also press for trade and aid flows to the developing world.

India's economy is "substantially internally driven" and therefore needed to generate greater domestic demand to cushion itself against the "economic turbulence abroad", he remarked.

He also underscored that India needed to look at regional cooperation as a defense against such crises.

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