New Delhi, Aug 24: Apex industrial chamber Confederation of Indian Industry is opposed to joining the consensus on Singapore issues at the upcoming round of WTO negotiations at Cancun. The apex chamber would put forward its view to Commerce Minister Arun Jaitley on Monday at a meeting to formulate a strategy for trade negotiations, a release said.
A team headed by CII president Anand Mahindra would propose seeking a longer time frame for modalities negotiations and insist on a fall back strategy.
"India should remain in the modalities negotiations and buy time," it said.
On issues concerning agriculture, the chamber said domestic support should be drastically reduced by as much as 60 per cent over a five year time frame while on export subsidies it has suggested a complete elimination of the same spread over a ten-year period.
Blue box subsidies should also be done away within five years, it added.
As regards market access, CII feels India should have the freedom to decide products of export interest. Sectors should be negotiated and non tariff barriers eliminated.
It has favoured a Uruguay round approach for tariff cuts. Bureau Report