India has pitched for fast-tracking negotiations in the WTO on special safeguard mechanism, which would allow developing countries to temporarily raise tariffs on agricultural imports in response to import surges or price drops, an official said. The country flagged the issues during a meeting of a committee on agriculture issues in Geneva on Dec. 4.
In the meeting, India emphasized on the need to prioritize unresolved mandated issues such as a permanent solution to public stockholding, SSM, and cotton, treating them as standalone issues.
"India highlighted the Nairobi Ministerial Decision's mandate to prioritize and fast-track SSM negotiations, calling for modalities that are simple, operational, and equitable," the Geneva-based official said.
Regarding Guyana's proposal, India reiterated that any facilitator-led processes should be consensus-based and respect WTO's (World Trade Organization) multilateral principles, rejecting the non-traditional approach based on convergence.
Guyana has presented a new proposal to advance agricultural negotiations ahead of MC14 (ministerial conference). The 14th conference is tentatively scheduled to take place in Cameroon (Africa) in 2026.
Further India has urged members to conduct text-based negotiations on finding permanent solution to public food stockholding.
Under text-based negotiations in WTO, an agreement is finalised around draft texts floated by the chair of a particular committee dealing with the subject. The draft is based on discussions amongst the member countries and is fine-tuned till all the nations are in agreement with it.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
