NEW DELHI: India has said that successful conclusion of the global trade talks at the World Trade Organisation (WTO) will benefit the country and other developing nations.
Commerce and industry minister Anand Sharma said that India was keen to see the Doha round concluded by the new deadline of 2010.
“We hope in 2010, we will see a successful conclusion of the Doha Round of talks. India and other developing countries have most to gain and lose with success or failure of these trade talks,” Mr Sharma said addressing the Pravasi Bhartiya Divas meeting jointly organised by CII and the government on Friday.
The minister pointed out that while exports had come back to the positive territory, a more open global market through a multilateral agreement under the WTO would be in the country’s interest. India’s exports fell continuously for 13 months before registering a 18% growth in November 2009.
As per WTO calculations, the Doha round could result in increased world trade worth $150 billion through reduced tariffs on industrial and farm goods.
Source : The Economic Times