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Suresh Prabhu: No country can benefit from global trade decline

Talking about ease of doing business, the minister hinted that India has improved its ranking in the World bank's doing business index

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Suresh Prabhu

Suresh Prabhu

No country can benefit from the decline in the world trade, and the slowing global economy is a concern for all nations including India, Commerce and Industry Minister Suresh Prabhu said Tuesday.

For past six-seven decades, there was a lot of predictability in doing business globally, but in the course of last few months, "we are seeing a dramatic change in global trade," he said. India is the "worst sufferer" of the declining trade and slow economic growth in the world as the country has huge stake and its share in the world trade is also increasing, he added. He stressed that slowing global economy is a concern for India as it has the potential to reach USD USD 5 trillion size before 2025 and USD 10 trillion before 2035.

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