Protectionism Isn't Patriotic
Samuel Johnson got it wrong: Patriotism is the last refuge of the unprofitable. The Indian e-commerce giant Flipkart Online Services Pvt. lost 23 billion rupees last year, and so its co-founder and executive chairman, Sachin Bansal, has suddenly morphed into a great champion of local companies. “We need to take a more India-centric approach” to regulation, he told a Bengaluru audience last week, citing Donald Trump approvingly.
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