Delivering a special lecture on making trade work for poor people at the National Council of Applied Economic Research (NCAER) on Thursday, Dr Stern said that India should lead by example and demonstrate its sincerity to move forward through action on unilateral trade liberalisation and open support for reciprocal trade liberalisation in the upcoming round. India played a major role in Doha with respect to numerous issues ranging from TRIPS and health to implementation-related issues and concerns, Dr Stern pointed out, adding that Indias vocal opposition to the inclusion of investment and competition policy resonated loudly.
However, he stressed that India should be tough but constructive. Any threat to retreat to isolation would be deeply damaging to India and to the whole process.
Expansion of trade opportunities was an important ingredient of any poverty reduction strategy, the chief economist said.