Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 1019 Fri. April 13, 2007  
   
Business


Indian chambers for firm stance to make success


As trade ministers from India, US, European Union and Brazil made another attempt to salvage the Doha round of multilateral trade negotiations here yesterday, Indian business and industry chambers favoured WTO member countries taking a firm development stand for a successful outcome.

The Confederation of Indian Industry (CII) is of the view that WTO members can ensure a development-friendly outcome by insisting that the mandate contained in the Doha Declaration, July framework and Hong Kong ministerial meeting declaration are fully respected.

CII President R Sehasayee urged the trade ministers to build the developmental concerns into every subject under negotiations -- be it market access or rules.

On industrial goods, he said the Swiss formula for tariff cut should have a coefficient, which is the average bound tariff of every country to ensure that the mandate for non-agricultural market access in respect of less than full reciprocity and elimination of peak tariffs and tariff escalation is respected.

On agriculture, Sehasayee said export subsidy by developed countries, domestic support and tariffs being inter-related, developing countries such as India needs to necessarily depend on the tariff mechanism and other associated instruments to protect their agriculture against subsidised imports.

Habi Khorakiwala, president of Federation of Indian Chambers of Commerce and Industry (FICCI), said India should resist the pressure for drastic cut in tariffs.

He said in the absence of any concrete progress on negotiations relating to non-tariff barriers in WTO, greater market access for India's exports such as textiles, leather and leather goods, chemicals, marine products and electrical and electronic goods would remain a pipedream.

In service sector, developed countries are yet to offer any significant opening up of their markets in areas of export interest to India like management and consultancy services, engineering and medical services and business services.