India Urged to Build Buffers Beyond Protectionism

India’s chief economic adviser says the country should not simply shut out foreign competition.

Instead, India should make important goods at home while still being able to sell products around the world.

He also wants India to keep large supplies of important items, such as six months of oil.

This could help the country cope when wars, politics or trade disputes disrupt supplies.

He said countries are increasingly using trade, technology and energy as tools of pressure.

The adviser also warned that prices, interest rates and government debt may stay high for a long time.

Artificial intelligence is changing what countries trade and may reduce some junior-level jobs.

He said India needs both jobs that use AI and jobs that are less affected by AI, including work in factories, tourism, hospitality and elder care.