"PM Narendra Modi's speech has been perceived positively by the global community. India taking a bold stand against protectionism is a great position for the country in terms of open market at a time when there is a potential war going on between America and China. India will have to stand by this position even when domestic lobbies push for import, tariffs and protection", Uday Kotak, Managing Director, Kotak Mahindra Bank tells NDTV.