No immediate solution to WTO draft: Kamal Nath

Kolkata, Aug 11 (UNI) There is no immediate solution to the stalemate in WTO unless the developed countries initiate talks, Commerce and Industry Minister Kamal Nath said today.

India would not entertain any impact on the agriculture sector owing to the subsidy issue, Nath said in the sidelines of inauguration of Indian Institute of Foreign Trade's Kolkata campus.

India would be looking at a WTO agreement which would wheel the country to a 10-11 per cent growth trajectory, the minister said.

On comments that India is taking a tough stand on the WTO talks, he said, '' India will have to take care of its own interests and those of the developing countries. '' Quoting a research report Kamal Nath said higher exports would lead to higher job creation and the IIFT should gear up to meet the demand.

'' We are increasing exports to create more jobs rather than earning foreign exchange and the institute should gear up to meet the demand, '' he said.

He said 21 million jobs would be created by 2010 because of the rise in exports from the country.

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