WTO draft not in India's interest: Assocham | Latest News India - Hindustan Times
close_game
close_game

WTO draft not in India's interest: Assocham

None | ByPress Trust of India, New Delhi
Jun 26, 2006 09:32 PM IST

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.

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.

HT Image
HT Image

"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.

Hindustan Times - your fastest source for breaking news! Read now.

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.

Unveiling Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch now!

Get Current Updates on India News, Election 2024, Arvind Kejriwal News Live, Bihar Board 10th Result 2024 Live along with Latest News and Top Headlines from India and around the world.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On