WTO talks collapse disappointing: Industry

New Delhi, July 30 : The Confederation of Indian Industry (CII) is disappointed over the inability of Trade Ministers to bridge their differences at the Doha WTO negotiations in Geneva.

In a statement, R Gopalakrishnan, Chairman, CII WTO and Trade Agreements Committee and Executive Director, Tata Sons Limited, said: "It is disheartening to know that the talks collapsed over the issue of a reasonable trigger point needed to safeguard the livelihood concerns of millions of subsistence farmers in developing countries.

While expressing Indian industry's complete support on the stand taken by Commerce Minister Kamal Nath, Gopalakrishnan said that if the proposal of 40 percent volume surge to trigger the safeguard had been accepted, it would have substantially diluted the Special Safeguard Mechanism available to developing countries.

"Even the 10 percent import surge proposal from India and other developing countries was very liberal," felt Gopalakrishnan.

"Agriculture goes beyond trade for India and the livelihood of its farmers cannot be compromised," he added.

The collapse of the talks is a set back for the multi-lateral trading system and its principle of promoting free and fair trade, Gopalakrishnan said, adding that the hard work that went over last nine days in reaching a convergence has come to a nought.

He expressed hope about the negotiations being restarted soon, so that the development accord that all WTO members committed themselves to almost seven years ago, can be successfully concluded.

ANI