Uday Kotak Quotes

It was good to launch the economy in the '50s. Japan did this; China did this; even South Korea did this. All the East Asians did this - import substitution. I think all countries followed import substitution in the '50s and in the '60s, but I think by the '70s, countries were getting out of that first phase of the strategy.

Foreign trade can no longer be dealt with apart from other domestic economic policies and concerns. Governments often employ trade policies less for commercial ends than to achieve other goals- economic, political, and social.

Free trade is the result of prosperity rather than the cause of prosperity .... Without growth over a long period of time you will not have a political commitment to free trade.

And one of our points of continuing conversation with our trading partners is the urgency of their taking steps to remove barriers to their improved growth performance.

China's economic transformation began with the introduction in the 1980s of market incentives in the agricultural sector. These reforms were followed by a gradual opening to the global economy, a process that accelerated in the early 1990s.

Bilateral trade deficits are not evil; historically, better growth in the U.S. economy has led to larger trade deficits.

The way - the principle way that human beings had gotten out of extreme poverty is free trade.

Let us come together and think of ways India does not have to import but we export to the world.

That level of trade deficit throttles real growth in our country and continues the unfortunate path of selling out America. We are not winning the global trade war, we are losing it badly.

It's well proved economics that if a country which is rich and a country that is poor come together in global trade, sooner or later the standard of living of the poor country will go up towards that of the rich country.

The WTO has one of the most impressive records in global economic governance, by promoting trade liberalisation and economic development.

The explosive growth in places like Shanghai has helped lift hundreds of millions of people out of poverty and into a thriving new middle class. What China has done is nothing short of an economic transformation, and the citizens of this country have every right to be proud.

The basic idea was that if a country would put its economy as an integrated piece of the world system, that it would benefit from that with economic growth. I concur with that basic view.

The commerce of India does not grow, nor does that of Portugal, or of Turkey; that but that of the protected countries does increase, as has been shown in the case of Spain, and can now be shown in that of Germany.

To open up new markets and create American jobs, we need to make global bilateral free trade agreements a priority as they were under the Clinton administration.

Few countries have become rich through free-trade, free-market policies, and few ever will.

Free trade has been one of the tenets of the modern Mexican economy, and it's through competition and free trade that we will continue to advance.

Japan rose from the ashes of World War II as a 'trading state,' the model for export-led growth. It is not clear that the old export model of growth will be sustainable in a more 'balanced' global economy that does not rely so heavily on the U.S. consumer.

Free trade, far from protectionism, is the path that we should take to make Latin America a thriving actor in the global economy.

For me, the real thing is make, serve and list in India. Which means we need manufacturing, we need services, and we need financial markets.

I think every country has to recognize its competitive advantage and liberate its strengths to be a partner in global trade, and that's the only way you can survive and succeed.

A key U.S. initiative in this trade war must be to develop reliable trading partners in the world.

The Indian economy grew at 5.5 percent, but if you look at the last 30 years - for example, 1960 to 1985 - the progress made by East Asian countries was phenomenal. In a single generation they had been able to transform the character of their economy. They were able to get rid of chronic poverty.

Nonetheless, the developing countries must be able to reap the benefits of international trade.

Liberalization of trade barriers are essential for long-term global growth.