India showing its stewardship to rescue global trade talks from complete failure has asked World Trade Organization (WTO) to continue negotiations on Doha agenda. Riding on the benefits of globalization and liberalized economy, India is in no mood to take the blame for failure of global trade negotiations. Rather it is willing to bring a compromise deal on the issue acceptable to all.

Official sources in New Delhi and Geneva confirm the conversation between WTO head Pascal Lamy and Indian Commerce and Industry Minister Kamal Nath after the failure of Potsdam conference of G4 nations. India wants the talks to continue in Geneva under the leadership of WTO involving all instead of selected nations. This can be viewed as India’s increasing role in global trade and growing economic development.

The separate Indian request is also an indication that the G4 comprising India, Brazil, European Union and the US is no more the sole forum for furthering trade negotiations. At Potsdam, the consensus eludes because of lingering differences between these selected nations on agriculture and subsidy issue. During the talks, the G4 was virtually divided into North-South with the US and EU on one side and India and Brazil on the other.

India and Brazil representing the third world and developing nations demanded for quick cuts in the agricultural subsidies given by the developed nations. They fear that this may help farmers in the EU and the US to capture the yet to be opened farm markets of the developing world. The western bloc is hell-bent on forcing developing countries to open their market for the agro products.

The failure of Potsdam talks led to a blame game. Developing nations blame the West for trying to divide their groupings such as G-20, G-33 and G-90 formed to protect trade interests. On the other hand, the US Trade Representative Susan Schwab rebuked India and Brazil for shifting agenda and hampering the interest of less developed countries. However, the participants are ready to set for talks in Geneva under the WTO.

It is for the last four years that the differences on global trade talks persist. The main reason of dispute is agricultural subsidies. The rich nations are justifying their policy on the ground of food security. The Third world still suffering from the evils of colonialism is not willing to give way fearing the destruction of its agriculture sector the very basis of sustenance.

Image

Image2

Via: The Hindu