India raises concerns over massive subsidization of farm sectors by developed countries at WTO meet

India has raised concerns over massive subsidization of farm sectors by developed (rich) countries.

These concerns were raised Union Minister for Commerce and Industry Nirmala Sitharaman during the 10th Ministerial Conference of the World Trade Organisation (WTO) in Nairobi, Kenya.

Concerns raised by India

  • Pulled up developed (rich) countries for failing to reduce massive agricultural subsidisation which are generally trade distorting agribusiness subsidies.
  • Agricultural reforms remain the corner stone of the Doha Development Agenda (DDA) 2001 negotiations.
  • All member countries must deliver on all three pillars of the negotiations in a balanced and logical manner of the DDA.
  • Pitched for special safeguard mechanism (SSM) to protect legitimate interests of poor farmers and the food security of hundreds of millions in developing countries.
  • Member countries should not continue with the rhetoric of a development agenda without an attempt to address issues which are of primary concern to developing economies.
  • Trade distorting agribusiness subsidies of developed (rich) countries mainly framed by handful of farm lobbies of some countries is worsening destiny of millions of subsistence farmers of the developing countries.

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Categories: Business & Economy Current Affairs 2017

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