WTO draft not in India's interest: Assocham
The industry body says the draft text of the Mini Ministerial Meeting of WTO to be held in Geneva should be rejected since it falls short of India's expectations.india Updated: Jun 26, 2006 21:32 IST
Industry body Assocham on Monday said the draft text of the Mini Ministerial Meeting of WTO to be held in Geneva should be rejected since it falls short of India's expectations and makes it obligatory for developing countries for greater reductions in their industrial tariffs.
"India should not be happy about the draft text on Non Agriculture Market Access because this text seems to prefer a simple Swiss formula for tariff reduction in industrial goods. This would mean that developing countries will be obliged to go in for steeper tariff cuts than the developed countries," Assocham President Anil Agarwal said in a statement.
The industry chamber said the Doha Round of negotiations should be completed on time since collapse of this round would go against the interest of the developing countries.
Tariff reduction formula should be such that developing countries are not unduly punished for their level of tariff. Developing and developed countries are at two different levels of industrial progress and, hence, industrialisation should not be compared, he added.
Developing countries should step up pressure for total elimination of export subsidies and reduction of domestic support to farmers in the rich world. However, the chamber said industry and agriculture should at no point be compromised.
India should maintain its leadership position in the G-20, which would protect interest of millions of poor farmers, it added.