TO EACH HIS OWN

The rise of protectionism will impact investments in climate mitigation. With the right policies and partnerships, India can become a key recipient of global capital

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IN RECENT years, the world has undergone a marked shift from liberalisation and globalisation towards protectionism. After decades of promoting free trade, reducing tariffs, encouraging cross-border investments and pushing deregulation, many countries are prioritising domestic industries and strategic autonomy.

Early signs emerged after the 2008 global financial crisis. The next few years witnessed a material increase in job losses, income inequality and cultural identity issues. These contributed to political outcomes such as Brexit and Donald Trump’s 2016 election victory. The U.S.-China trade war that followed forced companies to diversify away from China.