Business How to (and not to) protect domestic industry Updated : April 27, 2018 12:11 PM IST Trade agreements allow for policy spaces to protect and incentivise domestic manufacturers and service providers. The principle of “national treatment” in trade agreements requires countries to provide like, or identical treatment for domestic and imported goods and services. At the same time, nurturing the domestic industry is a sovereign function and right. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.