India seeks total revision of WTO's new text on industrial goods

New Delhi, May 22 (UNI) India today sought complete revision of new text on industrial goods issued by the World Trade Organisation on Monday.

In a statement issued by his office here this evening, Commerce Minister Kamal Nath pointed out a sharp increase in the number of square brackets in the text on non-agriculture market access (Nama).

Square brackets in WTO's parlance denote areas of disagreement among member countries.

''This text(on Nama or industrial goods) would have to be completely revised and significant convergence achieved before taking the matter for deliberation at the Ministerial level,'' Mr Nath said.

He said, ''India is ready for a Ministerial meeting. However, a lot of work still needs to be done to narrow differences and converge before identifying a safe landing zone.'' The Minister said, ''The text (on Nama) has ignored the core mandate of the Doha round of less than full reciprocity in reduction commitments and comparability in ambition between Nama and agriculture.'' Equity and balance in this development-oriented Round could only be achieved if developed countries agreed to take tariff cut of 49-51 per cent on their dutiable goods with lesser cuts for developing countries.

More UNI SAA MP CS1845