SME Times is powered by   
Search News
Just in:   • EAM Jaishankar dials counterparts in Asia and Europe, discusses strikes on Pak-based terror camps  • Iran rejects report of proposing direct talks with US  • Singapore issues travel advisory asking citizens to avoid J&K, Pak  • US: Two injured, suspect dead after shooting at Florida pharmacy store  • 430 flights cancelled, 27 airports to remain shut till May 10 
Last updated: 27 Sep, 2014  

CII Logo THMB India Inc calls for global fund to meet WTO obligations

WTO.9.jpg
   Top Stories
» Sensex, Nifty open nearly flat as geopolitical tensions continue
» Sensex, Nifty gain in early trade as India carries out ‘Operation Sindoor’
» India, UK finalised free trade deal, says PM Modi
» Moody’s pegs India’s GDP growth at 6.3 per cent for 2025
» Nifty, Sensex open higher; Adani Ports among top gainers
SME Times News Bureau | 02 Dec, 2013
The Indian industry Sunday called for a WTO agreement on mandatory global funding to meet extra costs incurred by poor and developing countries for meeting obligations they undertake at its forthcoming Bali meeting.

"Industry is of the view that there is a need for the WTO agreement to set up a mandatory global funding mechanism that will meet additional costs for developing or least developed countries (LDCs) for meeting obligations they undertake at Bali," the Confederation of Indian Industry (CII) said in a statement.

It said: "Additional costs, if any, for developing countries, for creating infrastructure to meet additional commitments under the agreement should not lead to higher usage costs for the private sector."

The 9th ministerial meeting of the World Trade Organization is scheduled to be held in Bali, Indonesia, Dec 3-6, in which all 159 member countries of the WTO are expected to participate.

"Specifically, it (Indian industry) supports a good trade facilitation agreement that can cut transaction costs and help make industry more competitive," CII added.

The broad areas figuring in the agenda of the conference include trade facilitation, agriculture negotiations and development issues relating to the LDCs.

India will not offer any compromise on its food subsidy programme at the WTO ministerial meeting, Commerce Minister Anand Sharma said last week.

Several WTO member countries from the developed world fear that owing to India's ambitious social security programme introduced earlier this year, its agriculture subsidy would breach the 10 percent cap under WTO agreements.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter