Adverse effect

陈小将

Import restrictions will see prices rise, Roy said, and the quality of products might be adversely affected.

Import restrictions might be detrimental to the Indian economy, Roy said, adding that protecting the domestic market will leave foreign investors reluctant to invest in India.

Wang's remarks are welcome and in tune with India's own efforts, said Swaran Singh, a professor of international relations at the Jawaharlal Nehru University in New Delhi.

While each country has its priorities, strengths and challenges, BRICS members can surely explore new areas for their expanded cooperation given the shared spirit of expanding mutual trade and commerce, Singh said.

Lawrence Loh, director of the National University of Singapore's Centre for Governance and Sustainability, said countries must uphold the interests of their people in adequate consumer choices and good prices.

"They should respect free trade and uphold free markets — protectionist measures will not help in economic development, especially in the challenging global economic setting beset by high inflation," he said.

Even if there are short-term benefits to any form of import restrictions, the long-term consequence will be the loss of global competitiveness because of economic suboptimization, he said.

"Geopolitical tensions should not get in the way of trade and economic growth."