New Delhi, Aug. 23 -- Indian Commerce Minister Piyush Goyal on Thursday warned that the world economy will fall into a recession which will spare no country if the protectionist policies and "unilateral measures" being adopted by some developed countries continue.

Addressing the South-South and Triangular Cooperation summit here, Goyal said that the "the time has come to take on the policies of protectionism and unilateral measures by some developed countries that are having an adverse effect on global free trade", a statement said.

Hinting at the costly impact of trade tensions between the US and China, the Minister said that if "protectionist measures continue, there will be recession in the world and no country will escape it".

A rece...