India seeks freer market through Doha deal



New Delhi: India today said it wants a freer global trade through a Doha Accord this year to help its exports which have been in troubled waters following the global economic crisis.

New Delhi, Jan 7 (PTI) India today said it wants a freer global trade through a Doha Accord this year to help its exports which have been in troubled waters following the global economic crisis. "We hope in 2010, we will see a successful conclusion of the Doha Round talks. India and other developing countries have most to gain and lose with success or failure of these trade talks," Sharma said addressing the Parvasi Bharatiya Divas meeting underway in the Capital today.

While exports returned back to the positive territory, a more open global market through a multilateral agreement under the aegis of the World Trade Organisation would be in the country's interest, Commerce and Industry Minister Anand Sharma said here today.

The country's exports clipped at 18.2 per cent in November for the first time after began contraction in October 2008.

It can be noted that Sharma had "re-energised" the eight-year old WTO negotiations by hosting a meeting of key trade ministers in September.

Officials have resumed discussions in Geneva since then, trying to narrow differences. While the developed countries want liberal markets in the developing world, they are not ready to bring down their large farm subsidies.

With their exports hit by the global recession and protectionist measures in several Western markets, Sharma said the developing and poor countries have more stake in reaching a multilateral trade agreement than others.

Sharma said the historic distortions to the global trade regime must be removed in the new accord which has mandate to ensure development of the developing and poor countries through trade.

PTI