Where would Apple, IBM be if not for talent from across globe: RBI Governor Urjit Patel

Cautioning against protectionism, RBI Governor Urjit Patel has said where would giant American corporations like Apple, Cisco and IBM be if they had not sourced the best products and talent from across the world.

“I don’t think that we have heard the last word on US policy talk about this because there is a push back internationally that the world has benefited from an open trading system,” the Reserve Bank of India (RBI) governor said after delivering a lecture here.

He made the remarks in response to a question on the rise of protectionist tendencies in major world economies after he delivered the Third Kotak Family Distinguished Lecture, sponsored by the Raj Center on Indian Economic Policies at the Columbia University’s School of International and Public Affairs.Read more…