Geneva: Several WTO members, including Turkey, Brazil, Mexico, China, Pakistan and the European Union, on Wednesday praised India for pursuing bold trade and development-friendly initiatives despite serious economic and social challenges.
The US, however took several pot shots at New Delhi by commenting "about lack of transparency in many aspects of India's trade policy" at the World Trade Organisation.
During India s trade policy review meeting at the WTO, which provides a platform for members to review New Delhi's overall trade and macro-economic policies, India's commerce secretary Rahul Khullar outlined about the government s trade and macro-economic reforms in the face of raging global economic crisis.
India s average applied tariffs are currently around 8.9 per cent. The government has also streamlined its customs procedures and trade facilitation measures during the last four years since the last trade policy review in 2007.
"Developing countries need to address their core concerns of food and livelihood security, besides promoting rural development, while undertaking liberalisation commitments," Khullar said.
"It is important for India and other developing countries to be able to protect the interests of their nascent and vulnerable industries," he said, arguing that "the development interests of such industries cannot be sacrificed at the altar of mercantilist demands, which seem utterly oblivious to the fate of millions of people living on truly meagre incomes.
He said India is disappointed at ongoing attempts to "sidestep the core issues and come up with a new agenda" at this juncture.
Turkey s trade envoy Ambassador Bozkurt Aran who was the discussant for the trade policy review meeting said the ongoing economic development in some sophisticated hi-tech areas in India coupled with growing dependence on agriculture and rising inequalities are like the tale two cities.
Brazil s trade envoy Ambassador Roberto Azevedo said countries like needed policy space for developing their nascent and vulnerable industries. China praised India for pursuing open and development-friendly economic and trade policies, arguing that there is still room for expansion in the two-way investment and trade areas.
India is a very a influential country, Mexico s trade envoy Ambassador Fernando de Mateo told, saying the two way-trade between Mexico and India has increased by seven times to $3 billion.
The European Union s ambassador Angelo Pangratis said Brussels wants to conclude the bilateral free trade agreement soon. He told the EU and India are working hard to promote trade and counter protectionism.
The US, however, said that the "agriculture sector in India remains closed to many foreign products", arguing that there are numerous barriers to trade in services and telecommunications as well as investment restrictions.
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