India reiterates its stand on Doha talks

Bangalore, Jan 17 (UNI) Reiterating its stand on Doha round of trade negotiations, India today affirmed that it will not compromise on the livelihood security of its people.

Interacting with media persons at the three-day CII Partnership Summit here, Union Commerce and Industries Minister Kamal Nath said he discussed with World Trade Organisation Director General Pascal Lamy and made India's stand clear. India would subscribe to the views of multilateral market and global system. However, ''we can negotiate commerce, but not the livelihood security of the people,'' he added.

Terming the summit as a flagship event, he said India was on the radar of the international arena for not only being a big economy, but also providing a huge market.

To a question, the Minister said he also discussed with British Chancellor of Exchequer Gordon Brown and prevailed upon him to influence the US leadership to ensure that the Doha talks yielded success. Developed countries should take the lead in ensuring that trade flowed smoothly to the developing nations, he added.

Mr Kamal Nath said the Foreign Direct Investment (FDI) to India was 54 per cent during November and the cumulative flow from April to November was US Dollars 7.3 billion when compared to 3.5 billion Dollars during the previous year, showing 117 per cent increase.

This was expected to cross 15 billion Dollars, including equity and retained funding during this year (120 per cent more), he hoped.

He said the Centre had asked the State Governments to submit a report on land acquisitions for various purposes such as laying roads and building special economic zones. States should follow fair, equal and transparent measures while acquiring lands belonging to the farming community.

The Minister also met leaders from various countries, including visiting Portugal President Anibal Antonio Cavaco Silva, former Hungary Prime Minister Peter Medgyessy and Trade Ministers from Kuwait, Chile and Britain and discussed in detail about the Doha talks and economic issues.

UNI