Consider the following statements regarding impact of protectionism on India 1 Protectionism i...........

Economic Affairs Public Finance and Debt Management

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Consider the following statements regarding impact of protectionism on India:

1. Protectionism in the West will increase opportunities for skilled IT professionals.

2. Protectionism undermines rules based order advocated by the WTO.

Select the correct statement

Only 1

Only 2

Both 1 & 2

Neither 1 nor 2

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Explanation:

Protectionism means safeguarding of domestic industries undermines India's IT sector. through restricted issue of H1-B professional visas issued to IT professionals, the US is seeking to promote employment of US citizens. Protectionism is against WTO diktats that advocates equal access to trade for all countries, and a rules based free trade regime.