The Finance Minister of the country has recently said that the economies should look at avoiding protectionism policies as it may affect the global trade policies going forward.

While the remarks of Mukherjee came at a point when there is some discomfort found in the India-US relations, it is believed that the remarks hinted towards the protectionism policies of the Obama administration. Keeping in mind the fact that more than 60% of exports from the Indian market go to the US, the protectionism policies will surely be a tough hurdle to cross for the domestic companies.

Mukherjee also mentioned the fact that the G20 countries should contribute more efforts to ensure a sustained global recovery. For the record, the Indian economy, which is the third largest in Asia is expected 8.5% in the fiscal.

On the other end, the South Korean economy, which is the Asia's fourth largest Economy, will be hosting the summit of leaders on the 11th and 12th of November this year which will have leaders from the group of 20 developed and the major emerging economies. The event will be hosted in Seoul.