Trump's protectionism sowing seeds of a second 'Bombay Club' in India Inc

Voice for import barriers similar to the ones imposed in the US grows louder

Seeds of a second Bombay Club, more than two decades after the first such club was active, are getting planted in the Indian industry. American President Donald Trump’s move to protect his domestic industry by raising import barriers has added fuel to India Inc's concerns on threats from unfair global competition. Leading industrialists are openly voicing their concerns, especially on threats from China.

The first Bombay Club came into being after the economy was liberalised in 1991 and the floodgates were thrown open to multinationals. Top Indian businessmen argued that these international companies were much ahead of them in production