Posted on December 08, 2016 | Events
On 8th December, 2016, Dr. Rajesh Chadha, Senior Research Counsellor at National Council of Applied Economic Research (NCAER) delivered a special lecture at ISBF on ‘Living with Mega Trading Blocs: India needs a Strategy.’ The lecture was organised as a part of ISBF’s continuous endeavour to develop students understanding of contemporary economic dynamics through interaction with experts in the area. Highlighting the linkages between Indian economy and the external world, Dr. Chadha advocated the usefulness of multilateral trade relations with different countries. Tracing the history of International Trade and explaining the negative consequences of restrictive trade practices by our country in the past, Dr. Chadha emphasised the need for free trade to boost economic growth as well as change in the quality of life of our people. Drawing on trade theories and his own research, Dr. Chadha concluded that increased competition, improved allocation of resources, reduced costs, greater welfare of people and increasing returns on factors of production were some the gains that accrue due to free trade. Both students and faculty actively participated in the Question & Answer session that followed the lecture and it proved to be highly rewarding intellectual experience.