Date:23/06/2007 URL: http://www.thehindu.com/2007/06/23/stories/2007062355841600.htm

Business

FICCI hails stand on WTO

Special Correspondent

Voices concern over stalemate in negotiations

NEW DELHI: Federation of Indian Chambers of Commerce and Industry (FICCI) on Friday welcomed India’s stand at the WTO on agriculture issues, asserting that it was consistent with the country’s objective on an inclusive growth.

However, the apex chamber voiced its concern over the stalemate in negotiations.

“India’s stand in WTO (G-4 meeting) is consistent with the objective of our country to have an inclusive growth that will take care of the special needs of our agriculture sector which is the most vulnerable sector of our economy,” FICCI Secretary General, Amit Mitra, said in a statement. While hailing the stand taken by the Union Commerce and Industry Minister, Kamal Nath, in the meeting of G4 — India, Brazil, the U.S. and the EU — on agriculture issues, he said India could not have afforded to dilute its stand on agriculture issues.

Further, commenting on the collapse of the talks as India refused to dilute its stand on agricultural market access, Mr. Mitra said, “There is no convergence and there is no question of India making any compromise”.

Agriculture constitutes the backbone of the rural livelihood security system of the country.

The sector provides employment to around 59 per cent of the workforce in the country, employing around 234 million people. Around 81 per cent of Indian farmers are small and marginal farmers with a holding of two hectares or less.

“This sector cannot be made to face the unfair competition and trade distortions arising from the heavily subsidised agriculture products of developed countries,” the statement added.

While expressing concern over the stalemate in WTO talks, the chamber appreciated India’s role in the WTO talks to achieve the balanced results of the Doha Round.

The apex chamber once again reiterated that the developed countries needed to show engagement, flexibility and political will for a developmental outcome of the Doha Round.