Globalisation going through revisionary phase: Suresh Prabhu

Globalisation is going through a phase where countries were "revisiting and re-evaluating" their role in it, Commerce and Industry Minister Suresh Prabhu said on Monday. According to Prabhu, who also holds the charge for the Ministry of Civil Aviation, the first phase of globalisation had faced opposition, while in the second phase, countries tried to participate more.

In the third phase, countries are revisiting their role, he elaborated during his address at an industry event by the CII.

Emphasising on having more trade among countries, he added that while most countries were revisiting their roles in globalisation, India was trying to engage with traditional and new partners.