PM meets commerce ministry brass to finalise WTO stand

Top commerce ministry officials Monday met Prime Minister Narendra Modi to finalise India's position on the impasse over signing an agreement to ease global customs rules at the World Trade Organisation (WTO), an official source said here.
India has asked for a permanent solution to the issue of public stockholding for food security purposes and not a restricted period of four years as was originally decided during the WTO ministerial meeting in Bali, Indonesia last year.
Last week, WTO director general Roberto Azevedo unveiled three options to break the current deadlock over the Trade Facilitation Agreement (TFA), that aims to ease customs rules.
"Clearly some members are already talking about alternative ways to take the TFA forward," Azevedo said, adding that one of the ways could be to "seek implementation of the TFA as a plurilateral agreement outside the WTO."
A crucial meeting of the WTO in Geneva in July to simplify the procedures of global commerce had failed to reach a conclusion, with India demanding as a quid pro quo some concessions for itself and other developing nations on food subsidy.
A success of this meeting would have signaled the first major step forward in the 19-year history of the WTO. The developed world especially looked forward to ratify this pact at the 10th ministerial conference next year.
India, per se, was not opposed to the pact on what is called trade facilitation when the diplomats from the 160 member countries met in Geneva and set July 31 as an informal deadline to sign on the dotted line.
Yet, at the core of New Delhi's demand was food security for its 1.25 billion people, the bulk of whom live on government doles in the form of subsidised grain. This is also a guarantee under Indian statute, having enacted the National Food Security Act, 2013.
India wanted to take no chances, having been short-changed in the past. Its opinion mattered since the WTO is a consensus-based multilateral body.
This programme is set to cost the exchequer Rs.1,31,086 crore ($21 billion) annually and there was no way the Indian interlocutors could have conceded to a pact that could have potentially gone against a domestic law, as also the larger issue of food security.
Related to it, India wanted concrete action plan on two more aspects – subsidy to farmers for buying plant nutrients and periodic announcement of a minimum support for farm produce fixed by the government for its food distribution programmes.
Category :Sports
More News

Indian Men's Team Rallies Behind Women Ahead of High-Voltage T20 World Cup Clash Against Pakistan

South Korea vs Czechia 2-1 Highlights: Korea's Stunning Comeback | FIFA World Cup 2026

Former Asian Games Gold Medallist and Ace Shooting Coach Jaspal Rana Dies at 49

Vaibhav Sooryavanshi's Father Joins Him in Sri Lanka as BCCI Extends Parents to Accompany Him to UK, Ireland

Vaibhav Sooryavanshi Earns Maiden India T20I Call-Up, Shreyas Iyer Named Captain

Afghanistan's Gurbaz Calls India Test Opportunity a Dream Come True Ahead of Historic Clash
Trending News

NEET-UG 2026 Re-Exam: Government Assures Strong Security and Transparent Conduct
Vaibhav Sooryavanshi Smashes Fastest List A Fifty off 11 Balls in Tri-Series Final
Messi Breaks New Ground: Historic Hat-Trick in 200th International Match
Donald Trump Jokes ‘I’m the Boss’ at G7 Summit, Lightens Mood Amid Global Tensions
Lionel Messi Marks Historic Sixth World Cup Appearance With Hat-Trick as Argentina Cruise Past Algeria
Shakira Celebrates 100th Concert in Los Angeles as Sofia Vergara Dances to ‘Hips Don’t Lie’
TV Actress Sanchita Ugale, Known for 'Kumkum Bhagya', Passes Away at 22
UN Welcomes US-Iran Truce as Guterres Backs Ceasefire and Fresh Diplomatic Talks
Iran Announces Immediate End to War, Says US Naval Blockade Will Be Lifted From Tonight
Trump Announces US-Iran Deal to Reopen Strait of Hormuz, End Naval Blockade Amid Energy Market Fears
Top News


