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`Alternative to WTO is adversity'

Our Bureau

MUMBAI, July 11

IF India's vulnerability has increased after joining the World Trade Organisation (WTO) as is made out in some quarters, it can decide to quit the multilateral rule-based trading arrangement by serving a notice. But the alternative could be much worse as the country will be subjected to the tyranny of bilateral negotiations, according to Mr Nripendra Misra, Special Secretary in the Ministry of Commerce.

Delivering the keynote address at a seminar on `WTO -- Implications for the Indian Industry,' organised jointly by the Associated Chamber of Commerce & Industry, the Indian Merchants' Chamber (IMC) and the Bombay Chamber of Commerce & Industry here recen tly, Mr Misra sought the support of the trade and industry representatives in the Government's ongoing efforts to wrest a fair deal for Indian trade.

``WTO is the only sensible option available to India as we have no regional trade bloc such as NAFTA to fall back upon. The voice of Indian Government will become weak at Doha (where a WTO meeting is scheduled in November) if its own industry, chambers a nd people disagree with it,'' he pleaded.

Refuting the observation of Mr Arvind Jolly, President of IMC, that the once-throbbing North Bombay area had become a graveyard of industrial units after India joined the WTO, Mr Misra said reasons for such a state of affairs may include India's poor com petitiveness on account of adverse cost, quality and productivity factors and bad management, among others, and not necessarily because of WTO.

Admitting that the industry in India should become more competitive by cutting costs, raising productivity and adopting new technology, Mr Jolly wanted the Government to take the trade and industry into confidence before taking vital decisions that impac ted the economy.